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You are here: Home / Community / Business News Bits / Alabama real estate firm buys Century Plaza retail, restaurant hub in Merrillville

Alabama real estate firm buys Century Plaza retail, restaurant hub in Merrillville

October 2, 2020 – By Larry Avila Leave a Comment

Century Plaza Shopping Center

Century Plaza Shopping Center at the corner of E. Lincoln Hwy and Broadway in Merrillville was purchased by Sanders Capital Partners of Alabama for $4.8 million. (Photo provided by Sanders Capital Partners)

An Alabama-based real estate acquisition and development company has purchased the Century Plaza Shopping Center in Merrillville.

Sanders Capital Partners said the purchase price was $4.8 million for the retail and restaurant hub at the high-traffic corner of Broadway and U.S. Rte. 30/E. Lincoln Hwy. Among the site’s tenants are: Panera Bread, Plato’s Closet, Qdoba Mexican Eats, and Jelly Pancake House.

“The COVID-era, while certainly a challenge in many respects, has pushed many buyers out of the market and allowed us to move deliberately to acquire a number of exceptional and favorably-priced assets that have a resilient tenant base, like we see here in Merrillville,” said Jackson Stewart, executive vice president and general counsel for Sanders Capital Partners. “Our lender network has been especially validating of SCP’s strategy over the course of the pandemic, showing a readiness to move quickly and intelligently to evaluate these opportunities in a variety of markets.”

Sanders Capital Partners of Birmingham, Alabama has been acquiring and developing properties across the Midwest and Southeastern U.S. since it launched five years ago. It specializes in developing and buying retail centers, office buildings, strategic land, and light industrial properties.

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Larry Avila
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Larry Avila
Larry is an award-winning journalist with more than 25 years of experience working with daily newspapers and business-to-business publications around the Midwest. Avila is a Michigan native and a graduate of Central Michigan University.
Larry Avila
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Filed Under: Business News Bits, Real Estate & Building Tagged With: Around the Region, Century Plaza Merrillville, commercial property, Panera Bread, Qdoba, Sanders Capital Partners

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