Chicago, IL (June 29, 2023) – Quantum Real Estate Advisors, Inc. has brokered the sale of a roughly 47,000-square-foot shopping center in Lansing, Illinois. Commonly known as River Place Shopping Center, the property consisted of a 7,350-square-foot building and a 39,728-square-foot building. All buildings featured all brick construction and had recently received numerous upgrades including tuckpointing, roofs, parking lots, and HVAC systems. At the time of the sale, the property was roughly 97% occupied and leased to a quality mix of both regional and national tenants, including Dollar General, Subway, Dunkin Donuts, SVS Vision, and others. The property sold for $4,395,000. The seller was a Wisconsin-based developer/investor, and the purchaser was a Virginia-based investor. The Seller was represented by Chad Firsel President of Quantum Real Estate Advisors, Inc., and Dan Waszak, Executive Vice President of Quantum Real Estate Advisors, Inc.
Chad Firsel had the following comments regarding the transaction, “The seller was able to sign several new leases over the past year, capitalizing on strong leasing momentum in the market.” He continued, “This allowed the seller to achieve maximum value upon the sale of the asset.” Dan Waszak added, “This transaction shows the continued demand from all across the county for well-lease, multi-tenant assets.”
Quantum Real Estate Advisors, Inc. (www.QREAdvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management, and financing.