FAIRVIEW, IL-Phoenix, AZ-based Cole Cos. has purchased the 272,898-sf Lincoln Place Shopping Center from Weingarten Realty Investors for $44 million. The mall, in a suburb of St. Louis, is anchored by Kohl’s, Linen’s ‘N Things, Marshalls, Office Depot, Old Navy and Ultimate Electronics. Lowe’s Home Improvement is a shadow anchor at the property.

The property is fairly new and was developed in phases over the past five to seven years, says Joe Girardi, an associate with Mid-America. He and principal Rick Drogosz represented the seller, a public REIT based in Houston, TX.

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