New York -- Viking Partners, a private equity real estate firm, has sold the Fishers Crossing shopping center in Fishers, Ind., to a private California investor for $4.1 million. The tenant lineup in the 29,569-sq.-ft. center includes Advance America, Pet Supplies Plus, Papa John’s Pizza, Elegant Nails, Café Korea and Krav Maga. A strong Kroger supermarket shadow anchors the center.
Fishers Crossing was just 55% leased when Viking Partners Fund II LLC acquired it in early 2012. Located in an established Indianapolis suburb, the center has strong demographics. More than 54,000 vehicles pass by every day. The trade area population is 156,309, and the average household income is $92,679.
The excellent demographics enabled the Viking Partners fund to lease the property fully within two years. Pet Supplies Plus, a national tenant, took the largest vacancy, a 6,400-sq.-ft. space.
Marcus & Millichap brokered the sale, while Katz, Teller, Brant & Hild provided legal counsel to Viking.
Viking Partners seeks to acquire value-added real estate opportunities located in the Midwest and Southeast with a transaction range of $2 million to $25 million.