PGP Bloomington 1, LLC and PGP Bloomington 2, LLC paid $5.5 million for the Richland Plaza Shopping Center at 4602 and 4657 W. Richland Plaza Drive in Bloomington, Indiana.
Marcus & Millichap senior vice president Jordan Klink was retained as the exclusive advisor to market the property for sale on behalf of the seller, Richland Plaza, LLC. Klink also sourced the buyer.
Located on 9.1 acres along State Road 46, the property is 93% occupied with a tenant roster of 19 Internet-resistant tenants. Three suites are currently vacant. IGA Grocery Store has been in operation at the site for more than 35 years and recently executed another five-year renewal option.
Additional tenants include Family Dollar, Subway, Hoosier Bar & Grill, China Star and others.
