Larry Hausman, an investment specialist with Marcus &Millichap Real Estate Investment Services, represented both partiesin the transaction. He says that the seller was a partnership thatfelt it had earned the appreciation it needed to move on. "Theyfelt like they could appreciate their investment faster in otherassets," he tells GlobeSt.com.

The center is 6 years old and 100% occupied, Hausman says. It'sa good deal, he says, because it's in the direction of new growth."This is a nice suburban area, with lots of new condodevelopments," he says. "This property is just a hair outside ofthe primo area of Hurstbourne Parkway, it's just a little bit southof ground zero for retail."

Tenants include Dick's Sporting Goods, Marshall's, Dress Barn,Rack Room Shoes and PetSmart. The center leases for about $12 to$16 per sf, "which for big box is actually pretty strong," Hausmansays.