The Journal Gazette
Tuesday, January 11, 2022 1:00 am

Shopping center changes owners

Apple Glen Crossing sold to Wisconsin company


Fort Wayne's Apple Glen Crossing, the shopping center just west of Jefferson Pointe, has been sold, officials said Monday.

The center, which contains Best Buy, Dick's Sporting Goods and other large retailers, serves an area with more than 137,000 residents within a five-mile radius, according to JLL Capital Markets.

JLL marketed the property on behalf of the owner, New York City-based Brixmor Property Group. Berengaria Development, of Milwaukee, purchased the center.

Berengaria is the real estate arm of Marcus Investments LLC, a private investment firm, also of Milwaukee.

No purchase price was disclosed.

The sale includes 150,163 square feet of space, a news release said, adding Apple Glen ranks in the top 5% of shopping centers nationally and in Indiana. Ninety-four percent of its space is leased to retailers, including PetSmart and Shoe Carnival, the release said.

Completed in 2000, the center on 17.43 acres at 1720-1770 Apple Glen Boulevard has nearly 11,000 square feet of expandable space, according to the release.

The Apple Glen Walmart was not included in the sale, and the center's Kohl's store is not owned by the sellers, said Kimberly Steele, JLL spokeswoman.

Located in the highly visible area between Jefferson Boulevard and Illinois Road, Apple Glen has a combined traffic count of 56,308 vehicles per day and has had 3.7 million visitors in the last year, JLL said.

Berengaria's website says it and Marcus Investments are privately held.

Among Berengaria's acquisitions are shopping centers in Valparaiso, Grafton, Wisconsin and Grove City, Ohio.

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