JLL Capital Markets arranged the $21.05 million sale of The Levee District, a 137,304-square-foot, open-air retail power center in East Peoria, Illinois.
JLL represented the seller, Cullinan Properties, Ltd., and procured the buyer, Chase Properties.
The Levee District sits on 11.06 acres at 322-470 West Washington St. in East Peoria. The property has a prime location with easy access to major interstates and draws from a trade area of more than 225,000 residents. As a super-regional retail destination, The Levee District is the most trafficked shopping center in a 50-mile radius with over four million annual visitors.
Developed in 2013, The Levee District consists of three buildings that are 94% leased, with best-in-class anchor tenants, including Ulta, Best Buy, Ross Dress for Less, and Boot Barn. The property is also shadow-anchored by Target, McDonald’s, Panera, Red Robin and more, which help drive visitors to the site.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Director Michael Nieder and Director Brian Page.
