Hines Global Income Trust acquires Carmel’s Clay Terrace mall

CARMEL, Ind. (WISH) — Real estate investment firm Hines Global Income Trust said Tuesday it’s acquired Clay Terrace mall in Carmel.

Columbus, Ohio-based Washington Prime Group owned and managed the mall.

Opened in October 2004, the joint venture totaled $100 million and involved Simon Property Group and Lauth Property Group. Washington Prime acquired the 493,000-square-foot retail space in 2014.

A news release issued Tuesday from the Hines trust said the open-air mall is 95% leased, with anchors Whole Foods and Dick’s Sporting Goods, and a mix of national brands including Sweetgreen, Sephora, and Lululemon. The mall sits southwest of the intersection of U.S. 31 and 146th Street in Hamilton County.

The release said the mall also includes a 14.4-acre parcel entitled for multifamily development, offering potential for densification.

The Clay Terrace purchase, the release said, was part of a deal totaling over $350 million that included the acquisition of Chicago’s Left Bank, a multifamily tower in the West Loop. The release did not break down the prices of the two purchases.

Hamilton County’s other open air mall, Hamilton Town Center, is in Noblesville.