Acadia Realty Trust has sold Lincoln Place, a 272,060-square-foot regional shopping center anchored by ALDI and Total Wine & More in the St. Louis-area community of Fairview, Ill.
Jenel Real Estate acquired the asset for $40.75 million.
Visited by approximately 5.14 million visitors over the past 12 months, Lincoln Place is 95 percent leased to a solid lineup of best-in-class anchor tenants, including ALDI, Kohl’s, Shoe Carnival, Ross Dress for Less and Old Navy as well as the only Marshalls, Total Wine & More and Five Below locations within a 20-mile radius. The center is rounded out by popular retailers such as Carter’s, Longhorn Steakhouse, Nothing Bundt Cakes, St. Louis Bread Company, GameStop and Pizza Hut. The property also benefits from a category-leading Lowe’s shadow anchor and Chick-fil-A drive-through, both of which drive traffic to the property.
Lincoln Place is at 6165 North Illinois St. at a “main and main” retail location in Fai
