Indiana mall changes hands

Marcus & Millichap arranged the sale of the 300,759-square-foot Richmond Square Mall in Richmond, Ind. The value of the transaction was not disclosed. Richmond Square is located at 3801 National Road East. Richmond Square was originally constructed in 1966 by DeBartolo Development and renovated in 1997. The enclosed mall is anchored by Sears, JC Penney, Office Max and Dillards, which was not included in the sale. Florida-based Bayview Financial sold the property to an Indiana-based private investor. Occupancy was at 97 percent at the time of sale. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage company. *** Send tips, feedback or a letter to the editor to newsroom@inman.com or call (510) 658-9252, ext. 124. ...