INDIANAPOLIS-Aviv Arlon Global Ltd., an Israel-based developer, has agreed to purchase the 600,000 square-foot Metropolis shopping center in Plainfield for $52 million. Premier Properties was the developer of the open-air mall.
The realty manager CB Richard Ellis, who was the court-appointed receiver of the mall, was in search of a buyer for the past three years. The mall is 81% occupied and generating an annual rent of $9 million. Aviv Arlon also plans to acquire a 322,000 square-foot shopping center in Bonita Springs, Florida.
For the full story, go to Indy Star.
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