CHICAGO, Ill. (March 3, 2026) – Pine Tree, in partnership with a state pension fund, acquired Village Park Plaza, a grocery-anchored community center in the Carmel, Indiana, submarket. The addition of Village Park Plaza brings Pine Tree’s total acquisition volume to over $1.4 billion since 2021, reflecting the company’s continued strategic portfolio growth and focus on high-quality open-air retail assets nationwide.
Village Park Plaza is currently 99% leased and anchored by a strong lineup of national retailers, including Walmart, Menard’s, Academy Sports, Ross Dress for Less, Ulta Beauty, Five Below, Hobby Lobby, Kohl’s, and Dollar Tree, reinforcing its position as a leading retail destination within the North Indianapolis submarket.
The shopping center is located within the Indianapolis–Carmel–Anderson MSA, one of the region’s most affluent and densely populated suburban communities, with strong retail fundamentals and long-term demographic growth.
“Village Park fits perfectly into our buy box with one of our strongest and longstanding capital partners,” said Will Davis, Vice President, Investments at Pine Tree. “We want to thank the seller and CBRE’s Christian Williams and Michael Wilson for a smooth transaction. We look forward to being an active owner and working alongside our tenants and the broader community to support the center’s continued success.”
The property was acquired from Washington Prime Group (WPG).
