Mar
21
HFF Leads $35M Sale of St. Louis Shopping Center
ByHFF also lined up $23.1 million in acquisition financing on behalf of the new owners.
St. Louis—HFF has closed on the $35.4 million sale of and arranged $23.1 million in acquisition financing for Lincoln Place, a retail center located in Fairview Heights, Ill. HFF represented the seller, Spirit Realty Capital, which sold the asset to Acadia Strategic Opportunity Fund IV.
Located at 5905-6109 N. Illinois St., on 17 acres, the 272,060-square-foot shopping center is 14 miles east of downtown St. Louis. At the time of the deal, the asset was at almost 100 percent occupancy, with a tenant mix including Kohl’s, Ross Dress for Less, Old Navy, Marshalls, Famous Footwear and Five Below. Lincoln Place was completed in 1999, and refurbished in 2005…
