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INDIANAPOLIS — Baceline Investments LLC has acquired Madison & Edgewood Shoppes, a 48,716-square-foot retail center in Indianapolis, for $2.5 million. The property is located at 5855 Madison Ave. Baceline Investments acquired the property from Florida-based HPH FUND I D4 LLC, an affiliate of HPH Capital Management LLC. The property was 68 percent occupied at the time of sale. Tenants include Great Clips, Edward Jones, Hallmark and Edgewood Family Dental. The retail center’s anchor tenant, Kroger, is not part of the acquisition.