Press Releases
Marcus & Millichap Brokers $12.4M Sale of Grocery-Anchored Retail Center in Valparaiso, Indiana
June 25, 2025
VALPARAISO, Ind., June 25, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Coolwood Plaza, a grocery anchored retail center in Valparaiso, Indiana, for $12.4 million.
“This was one of the larger grocery-anchored retail centers to trade in northwest Indiana in recent years, and the buyer pool reflects just how competitive the market has become,” said Mitchell Kiven, managing director investments. “We received six written offers, all from out-of-state private investors and mid-sized funds, underscoring the growing national interest in this region’s high-performing retail assets.”
Kiven and Nicholas Kanich, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, an entity affiliated with Chicago-based developer, Weiss Entities LLC. Kiven also procured the buyer, BC Wood Properties. Josh Caruana is the firm’s broker of record in Indiana.
Coolwood Plaza, located at 2252 Morthland Drive, is a multi-tenant retail center anchored by a Strack & Van Til grocery store. The property currently includes 11 tenants, comprising a mix of service, fitness and retail users. It also features a separately leased commissary space operated by Strack & Van Til, which supports food preparation and distribution for 21 regional locations. Positioned at a signalized intersection on U.S. Highway 30, the center is located two miles west of Valparaiso University and near downtown Valparaiso.
“This was one of the larger grocery-anchored retail centers to trade in northwest Indiana in recent years, and the buyer pool reflects just how competitive the market has become,” said Mitchell Kiven, managing director investments. “We received six written offers, all from out-of-state private investors and mid-sized funds, underscoring the growing national interest in this region’s high-performing retail assets.”
Kiven and Nicholas Kanich, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, an entity affiliated with Chicago-based developer, Weiss Entities LLC. Kiven also procured the buyer, BC Wood Properties. Josh Caruana is the firm’s broker of record in Indiana.
Coolwood Plaza, located at 2252 Morthland Drive, is a multi-tenant retail center anchored by a Strack & Van Til grocery store. The property currently includes 11 tenants, comprising a mix of service, fitness and retail users. It also features a separately leased commissary space operated by Strack & Van Til, which supports food preparation and distribution for 21 regional locations. Positioned at a signalized intersection on U.S. Highway 30, the center is located two miles west of Valparaiso University and near downtown Valparaiso.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
