SVN Chicago Commercial helped close the sale of a 601,205-square-foot shopping center on 71.38 acres in Elkhard, Indiana.
The shopping center property sits at 3701 S Main St. in Elkhart.
Tim Franz and Matt McParland of SVN Chicago Commercial represented the seller in the transaction. The 54-percent-occupied center sold for $8 million.
“Concord Shopping Center offers tremendous upside as we continue to see investors get creative in the redevelopment of malls. While there are short term challenges, the underlying real estate still holds value as malls are typically at the epicenter of regional markets,” Franz said. “It is my understanding that the new ownership group plans on repositioning the asset around a new grocery chain operated by one of the principals.”
