Joel J. Gorjian, a national real estate investor and president and CEO of Great Neck, New York-based Gorjian Acquisitions, has purchased the Lee Wayne Plaza office/retail center in Sterling, Illinois.
Located at 2317-2323 E. Lincolnway, the Lee Wayne Plaza is a 43,514-square foot, one-story office and retail strip center situated on a 2.08-acre lot in the most densely populated section of Sterling, Illinois, a town 110 miles west of Chicago. The fully-leased property has a high visibility from Route 2, the primary commercial artery through the town, and services the Sauk Valley community with a population of approximately 60,000, including more than 40,000 residents of Sterling, Rock Falls, and Dixon.
Lee Wayne Plaza’s 13 tenants include two government entities—the Bi-County Special Education Cooperative and the Illinois Department of Employment Security’s Unemployment Career Center—as well as McCormick Financial Services, Comcast of Northern Illinois, Castor Home Nursing, Back to Health Chiropractic Care and several other commercial tenants. There are also two rental warehouse and storage spaces.
Gorjian targets retail, office, and medical properties nationwide. “We have acquired 27 properties across the United States in the last 12 months and are currently pursuing additional opportunities in the Midwest, Southwest, Southeast, and Northeast,” said Gorjian.
Gorjian Acquisitions is a privately held commercial real estate investment and management firm with a portfolio that includes Hollywood Center in Jackson, Tennessee; Northfield Miles Plaza in North Randall, Ohio; Ridge Plaza in Gary, Indiana, as well as Matteson Town Center and the Marketplace of Matteson, both in Matteson, Illinois. Other recent Midwest purchases include the Midway Plaza shopping center in Tallmadge, Ohio; the Salem Plaza in Dayton, Ohio; 6500 St. Claire Avenue, a single-tenant retail property in Cleveland and the State and Mapleton Plaza neighborhood shopping center in Columbus, Indiana.
