INDIANAPOLIS— GPI Theatre Properties I has just sold its 51,000-square-foot Regal Cinemas Galaxy 14 multiplex in Indianapolis, IN to Great Neck, NY-based One Liberty Properties, Inc., another example of how outside investors have started to look at this city, among many other smaller towns, as a source of higher yields. Rebecca Wells, an executive vice president in JLL’s Indianapolis, IN office and managing director Michael Hochanadel, in the Columbus, OH office helped complete the sale. The price was not disclosed.

“We are in a yield starved environment and investors are finding that markets such as Indianapolis can offer higher yields without the assumption of higher risk on assets that have strong credit tenants with long term leases,” Wells says.

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