facebook
Traded Co logo
Submit
Daily limit: 0/10

Hines Acquires 493000-SF Clay Terrace Retail Center In Carmel Indiana For $199M From Washington Prime Group

Property Image
SOLD
$199,000,000
Jeffrey C. Hines
Laura Hines-Pierce
Christopher Conlon

Indiana

See Similar Deals
Retail493,000 SF
Sold 12/10/2025
the dealplayerscompscontact
Property Image
SOLD

Hines Acquires 493000-SF Clay Terrace Retail Center In Carmel Indiana For $199M From Washington Prime Group

14390 Clay Terrace Boulevard

See Similar Deals
Retail493,000 SF
Sold 12/10/2025
Jeffrey C. Hines
Laura Hines-Pierce
Christopher Conlon
the dealplayerscompscontact
Contact now

Summary

INDIANA
Asset Type:Retail
Price Per Square Foot:$403
Total Square Footage:493,000 SF
Transaction Type:Sale

The retail center located at 14390 Clay Terrace Boulevard in Carmel, IN, encompasses 493,000 square feet and is currently 95% leased. The sale price for this asset was $199,000,000, equating to approximately $404 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $199,000,000
  • Square Footage: 493,000
  • Address: 14390 Clay Terrace Boulevard
  • Market: Carmel, IN
  • Buyer: Jeffrey C. Hines, Laura Hines-Pierce, John Tomlinson & Will Renner - Hines
  • Seller: Christopher Conlon - Washington Prime Group

Hines Global Income Trust acquired the retail center from Washington Prime Group. This transaction reflects a notable activity amidst a broader decline in Indianapolis retail investment, which has dropped significantly this year.

Players

Jeffrey C. Hines
Hines
Jeffrey C. Hines
25 deals$3.8B volume
BUYER
Laura Hines-Pierce
Hines
Laura Hines-Pierce
36 deals$3.8B volume
BUYER
Hines
Hines
BUYER
Hines
Hines
BUYER
Christopher Conlon
Washington Prime Group
Christopher Conlon
10 deals$591.2M volume
SELLER

Details

SOLD
IMAGE: Jeffrey C. Hines, John Tomlinson, Laura Hines-Pierce, Christopher Conlon & Will Renner DATE: 12/10/2025 ADDRESS: 14390 Clay Terrace Boulevard MARKET: Carmel, IN ASSET TYPE: Retail BUYER: Jeffrey C. Hines, Laura Hines-Pierce (@TXHines57), John Tomlinson & Will Renner - Hines (@Hines) SELLER: Christopher Conlon - Washington Prime Group (@WPGSocial) SALE PRICE: $199,000,000 SF: 493,000 ~ PPSF: $404 NOTE: Hines Global Income Trust bought the 493,000-SF Clay Terrace retail center in Carmel, IN, for about $199M from Washington Prime Group, with the property 95% leased and anchored by Whole Foods and Dick’s Sporting Goods. The deal lands as Indianapolis retail investment volume slumps to $76M year-to-date—down sharply from $167M last year—as buyers shift toward lower-value assets.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$10,613,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$707,004.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$943,361.53
Annual Debt Service$11,320,338.30