FAIRVIEW HEIGHTS, Ill. — A Metro East shopping center anchored by national retailers has sold for $40.75 million to a New York investor.
Lincoln Place, a 272,060-square-foot retail center in Fairview Heights anchored by tenants that include Kohl’s and Aldi, was sold by owner Acadia Realty Trust to JENEL Real Estate. Acadia, a real estate investment trust based in New York, purchased the shopping center for $35.4 million in 2017.
The shopping center at 6165 N. Illinois St. is in a “main and main” retail location near the St. Clair Square mall and had 5.14 million visitors over the past year, according to a news release from JLL Capital Markets, the broker that represented the seller. It is visible from Interstate 64, where 90,000 vehicles drive by a day, according to the release.
Lincoln Place is about 95% leased, with tenants that include retailers Old Navy, Marshalls, Total Wine and More, Shoe Carnival, Ross Dress for Less, Five Below, Carter’s and GameStop. The center also has a Longhorn Steakhouse, Pizza Hut and St. Louis Bread Co., along with Nothing Bundt Cakes.
Read the full story on the St. Louis Business Journal website.
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