Viking Partners sells Fishers Crossing shopping center to California firm in $4.1M deal
Ohio-based firm Viking Partners has disposed of its Fishers Crossing retail center in Fishers, Indiana. The property has been bought by a California investor in a $4.1-million deal which was announced this week, according to Cincinnati.com.
The newly-sold property spans 29,569 square feet and is shadow-anchored by a Kroger store. Advance America, Papa John's Pizza, Pet Supplies Plus, Cafe Korea, Krav Maga, and Elegant Nails are among the other tenants in the place. Fishers Crossing had received five offers from different buyers, the report detailed.
The property was 55% leased when the company's Viking Partners Fund II LLC bought it in 2012. This is the fund's second asset sell-off after it sold the Meridian Towne Center in Michigan last year, the report said.
Viking general partner Steven P. Miller said of the sale: "This was a perfect deal for Viking to create value with a property that was underperforming in a high demographic area. With the project now fully leased, it was time to realize that value. There are more buyers and capital chasing retail deals. Demand for shopping centers is strong in the United States."