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| Lincoln Place Shopping Center, Fairview Heights, IL |
CHICAGO, IL, March 20, 2017 – Holliday Fenoglio Fowler,
L.P. (HFF) announced today that it has closed the $35.4 million sale of and
arranged $23.1 million in acquisition financing for Lincoln Place, a
272,060-square-foot shopping center in the St. Louis-area community of Fairview
Heights, Illinois.
 |
| Amy Sands |
HFF worked on behalf of
the seller, Spirit Realty Capital.
Acadia Strategic Opportunity Fund IV purchased the asset. Working on behalf of the new ownership, HFF
also placed the five-year, fixed-rate acquisition loan with a national bank.
Lincoln Place is situated
on 17 acres at 5905-6109 North Illinois Street at the “main and main”
intersection of North Illinois and Lincoln Highway in Fairview Heights, which
is 14 miles east of downtown St. Louis.
 |
| Clinton Mitchell |
The center is considered
to be in the most dominant retail location in southern Illinois, with more than
125,600 vehicles a day passing the center and its position south of Interstate
64 and Illinois Street.
Lincoln Place is 99.6 percent leased to a mix
of national tenants, including Kohl’s, Ross Dress for Less, Old Navy,
Marshalls, Famous Footwear, Five Below, Pier 1 Imports, Saint Louis Bread
Company and Mattress Firm, in addition to a separately owned Lowe’s, Chili’s
and Chick-fil-A. The center was developed
in 1999 and renovated in 2005.
The HFF investment sales
team representing the seller was led by directors Amy Sands and Clinton
Mitchell.
The HFF debt placement
team representing the new owners was led by managing director Timothy Joyce.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
.
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