JLL Capital Markets closes $41million sale of Lincoln Place, an ALDI-anchored retail property in Fairview, IL

  

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.

 Clinton Mitchell

Visited by approximately 5.14 million visitors over the past 12 months, Lincoln Place is 95 percent leased to a solid lineup of best-in-class anchor tenants, including ALDI, Kohl’s, Shoe Carnival, Ross Dress for Less, Old Navy and the only Marshalls, Total Wine & More and Five Below locations within a 20-mile radius.

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.

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.

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.

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CONTACT:

 Kimberly Steele

JLL Sr. Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

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