Shopping Center Near Ball State Has New Owner

(Image courtesy of Adler Realty Investments Inc.)

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A California firm has acquired a Muncie retail center. The nearly $10 million deal involves the Marsh Plaza development near the campus of Ball State University.

Adler Realty Investments Inc. President Michael Adler says he is excited about the prospects of the property. He adds it "successfully meets one of our investment strategies of finding the best locations in healthy smaller markets, which should provide our investors a high yielding cash flow return, with a good opportunity for appreciation."

The plaza, which is located at the intersection of McGalliard Road and Wheeling Avenue, is anchored by a Marsh Supermarkets and includes AT&T, Verizon Wireless, Noodles & Co., Great Clips and Papa Murphy’s Pizza locations.

The firm says the plaza is 100 percent occupied.