A 177,539-sf community center at 101 W. Lincoln Highway in Merrillville, IN was sold to Kmart Corp. for $6.7 million, while a 147,470-sf Wal-Mart-anchored center in Wood River, IL commanded $6.2 million from Wood River Partners, LLC of Weldon Spring, MO. George Good was involved in both deals for Malan Realty Advisors, with Keely Polczynski helping handle negotiations in the Merrillville deal.
"Demand for investment opportunities in Chicago-area real estate markets remain strong for well located, leased, quality shopping centers, which was exactly the type of center Merrillville Plaza is," Good says. The 30-year-old asset on the US 30 retail corridor has a tenant roster that includes new owner Kmart and Dollar Tree as anchors, Fran's Hallmark, One Price & More, Angie's Deli, Sherwin-Williams, Bo-Rics, Check Into Cash, Roma Pizza, Fashion Bug and Payless ShoeSource filling in-line spaces.
Built in 1987, Wal-Mart Plaza at 1501 Vaughn Rd. in Wood River is fully occupied, with Fashion Bug, Great Clips, Radio Shack and H&R Block rounding out the tenant roster.
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