By Samantha Kupiainen
Merchants’ Square has a new owner.
On Feb. 6, North Carolina-based Big V Property Group announced it had acquired the shopping center with its partner, Equity Street Capital. The sale marks the group’s first purchase in the Indianapolis market. The purchase price was not disclosed.
Merchants’ Square, an open-air retail property at 2100 E. 116th St. with 232,284 square feet of space, is home to tenants that include Planet Fitness, Flix Brewhouse, Cost Plus World Market, Petco and Dollar Tree. A portion of Merchants’ Square that is being renovated for a Harvest Market grocery store is owned by Niemann Foods and was not included in the sale.
Big V Property Group owns and operates more than 50 shopping centers, primarily based in the south. Its five major offices are in Charlotte, N.C.; San Antonio, Texas; Bristol, Tenn.; and Florida, N.Y. Equity Street Capital is a San Diego-based commercial investment firm.
Big V Property Group did not respond to a request for comment as of press time.
