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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Quantum Brokers Sale of Merrillville Shopping Center

Quantum Real Estate Advisors brokered the sale of Broadway Place, a multi-tenant retail shopping center at 6001-6091 Broadway in Merrillville, IN. The property sold for $7,000,000. 

The buyer is a private real estate investment firm based in New York. The seller is a private real estate investor from Chicago. 

Quantum SVP Jason Lenhoff represented the seller. At the time of sale, the property was 100% occupied by CitiTrends, B2 Digital, Aaron’s Rents, Shoppers World, and a few local tenants.

“Broadway Place is a great grocery shadow-anchored property that has a diverse tenant line-up,” said Lenhoff. “The buyer has local knowledge of Merrillville and was able to quickly put together this deal. 

“The seller had some last-minute leases get executed, which solidified the sale,” he continued. “With a new roof and parking lot, this shopping center will be profitable for years to come.” 


Inside The Story

Quantum RE’s Lenhoff

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).

  • ◦Sale/Acquisition