HFF announced the closing of a $35.4 million sale and $23.1 million in acquisition financing of a 272,060-square-foot shopping center in Fairview Heights, Illinois.
HFF worked on behalf of the seller, Spirit Realty Capital. Acadia Strategic Opportunity Fund IV purchased the property, Lincoln Place. The five-year, fixed-rate acquisition loan was placed with a national bank.
Lincoln Place sits on 17 acres between 5905 and 6109 North Illinois Street. The property is 99.6 precent leased to a mix of national tenants including Kohl's, Ross Dress For Less, Old Navy, Marshalls, Famous Footwear, Five Below, Pier 1 Imports, Saint Louis Bread Company and Mattress Firm. Also part of the property, but separately owned are Lowe's, Chili's and Chik-fil-A. The property was developed in 1999 and renovated in 2005.
