Carmel Merchants’ Square mall sold
CARMEL, Ind. (WISH) — A longstanding Carmel shopping center with several retailers, a fitness gym business, and a movie theater with dining has been sold.
Big V Property Group and Equity Street Capital announced its purchase of Merchants’ Square earlier this month. The price paid for the mall was not part of the announcement.
Charlotte, North Carolina-based Big V says the Hamilton County mall north of Indianapolis has 232,284 square feet of open-air shopping.
“The center’s diverse tenant mix includes reputable names like Planet Fitness, Flix Brewhouse, Cost Plus World Market, Petco, and Dollar Tree, providing a varied shopping experience. Additionally, the property will benefit from being shadow-anchored by the first Indiana location for Illinois-based Harvest Market. The 76,000 SF (square foot) store plans to open fall of 2024,” the announcement says.
News 8 in March 2023 reported on the coming Harvest Market in a former Marsh Supermarkets location that closed in summer 2017.
Merchants’ Square sits west of Keystone Parkway roughly between 116th Street and East Carmel Drive. It opened in 1970 as the enclosed Keystone Square Mall.
Big V says the acquisition “marks a significant milestone in the company’s portfolio expansion strategy.”