Transwestern’s Chicago office represented Retail Properties of America Inc. in the sale of Clifty Crossing Shopping Center in Columbus, Ind., to American Realty Capital Properties Inc.
Located at 1079 – 1343 N. National Road, the 175,934-square-foot center was developed in 1986 and renovated in 2004. Hobby Lobby, Best Buy, Bed Bath & Beyond, Party City and Petco anchor the center. The other tenants consist primarily of national retailers such as Chili’s, Verizon and Sally Beauty Supply.
“It is typically difficult to attract investors to smaller towns in the Midwest, however, both the industry and economy in Columbus exceed those typically found in smaller markets,” said Janice Sellis, capital markets director at Transwestern, in a written statement. “We conducted a national sales effort, and the well-leased power center attracted many competitive offers from investors throughout the country, not just from the Midwest.”
Sellis and Transwestern’s Paul Barile, capital markets director, represented Retail Properties of America in the transaction.