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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

LLCs Swap Ownership of Merrillville Retail Center

Marcus & Millichap closed the sale of Century Plaza, a 18,215-square foot retail property located in Merrillville, IN, within the Chicago MSA. The asset sold for $5,330,000.

Alex Perez and Chris Garavaglia, investment specialists in Marcus & Millichap’s St. Louis office, marketed the property on behalf of the seller, a limited liability company.  The buyer, a limited liability company, was also secured and represented by Perez and Garavaglia. Josh Caruana, Indiana broker of record, assisted in closing this transaction.

Century Plaza is located at 3999 E 81st Ave in Merrillville  “Century Plaza is a great example of continued investor demand for high quality retail assets in today’s market,” said Garavaglia. “We received multiple competitive offers within a short marketing timeframe and assisted the buyer in securing financing. We were very pleased with the outcome and thrilled to perform for a repeat client.”


Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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