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

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.