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| Amy Sands |
CHICAGO, IL – JLL Capital Markets has closed the $40.75 million sale of Lincoln Place, a 272,060-square-foot regional shopping center anchored by ALDI and Total Wine & More in the St. Louis-area community of Fairview, Illinois.
JLL represented the seller, Acadia
Realty Trust. Jenel Real Estate acquired the asset.
The JLL Retail Capital Markets Investment Sales Advisory team
representing the seller was led by Managing Directors Amy Sands and Clinton
Mitchell and Director Michael Nieder.
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| Clinton Mitchell |
The
center is rounded out by popular retailers such as Carter’s, Longhorn
Steakhouse, Nothing Bundt Cakes, St. Louis Bread Company, GameStop and Pizza
Hut.
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| Michael Nieder |
The property also benefits from a category-leading Lowe’s shadow anchor and Chick-fil-A drive through, both of which drive traffic to the property.
Lincoln Place is at 6165 North Illinois
St. at a “main and main” retail location in Fairview across the river from
downtown St. Louis.
The
center is just off and visible from the I-64 Expressway, which is a main
throughfare with 90,000 vehicles a day. This high barrier-to-entry location
serves an expansive trade area that includes 500,000 residents.
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| Lincoln Place Shopping Center, Fairview, IL |
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.
The firm has more than
3,000 Capital Markets specialists worldwide with offices in nearly 50
countries.
For more news, videos and research resources on JLL, please visit our newsroom.
.
CONTACT:
Kimberly
Steele
JLL
Sr. Manager
Public Relations
Phone: +1
713 852 3420
Email: Kimberly.Steele@am.jll.com
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