COLUMBUS, IN-Marcus & Millichap Real Estate Investment Brokerage of Detroit has the task of assisting in the sale of the 357,142-square foot Fair Oaks Mall here. Kahlil Barnard and Paul Kerber, retail specialists in the company’s Indianapolis and Detroit offices, respectively, will handle the $19.75-million listing.

Barnard and Kerber are members of the company’s national retail group, a division of the firm focused exclusively on the brokering of retail investment properties. The group’s system of exposing each property to the largest pool of qualified investors was instrumental in securing the listing.

The Fair Oaks Mall is the market area’s only regional mall, located on 34.49 acres. The mall serves approximately 120,000 people in the greater Columbus and Bartholomew County region, located centrally between Indianapolis, Cincinnati and Louisville.

Built in 1990, the mall features a combination of major national retailers, including a recently expanded Elder Beerman Department Store, J.C. Penney, Big Kmart and Goody’s Clothing Store. The four anchor tenants currently represent 42% of the mall’s income.

The mall’s positive sales performance, which is approximately $200 per sf, designates it as a class “B” regional mall.

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