Honey Creek Commons Shopping Center off U.S. 41 in Vigo County just south of Terre Haute has a new owner.
Sand Capital, a privately held real estate investment company headquartered in Scottsdale, Arizona, this morning announced it had acquired Honey Creek Commons. It did not disclose the price.
The shopping center is just under 180,000 square feet and is anchored by Kohl’s.
Sand Capital is controlled by the principals of Sandor Development Co., which was founded in 1963 and owns over 8 million square feet of shopping centers in 25 states throughout the U.S. Sandor Development also owns Kroger Plaza at 25th Street and Wabash Avenue in Terre Haute.
Sand Capital said it "plans to reposition the asset (Honey Creek Commons) through leasing and potential redevelopment of portions."
The company said the acquisition represents its largest transaction of the year and it continues to seek retail space acquisitions ranging from $1 million to $50 million.