Chicago, IL (March 1st, 2021) – Quantum Real Estate Advisors, Inc. has brokered the sale of a two-shopping center portfolio in Fort Wayne, Indiana. The properties are located at 401-407 E. Coliseum Boulevard and 407 W. Coliseum Boulevard and are roughly 27,000 square feet. The portfolio sold for just under $12,000,000. The Seller, an Indiana-based development group, redeveloped both properties into class-A shopping centers with high-quality tenancy. The Buyer is a private investor from Mexico. Dan Waszak, Executive Vice President of Quantum Real Estate Advisors, Inc., represented the Purchaser in the transaction.
Mr. Waszak had the following comments regarding the transaction, “This sale shows the continued demand for high-quality retail assets. The tenant lineup featured long-term leases to internet and COVID resistant tenants, which was the main attraction for the buyer.” Mr. Waszak continued, “This transaction wasn’t without its challenges, however. The Buyer was able to get attractive terms on a CMBS loan, and in the eleventh hour, significant hurdles arose. All parties worked diligently to finalize this loan and ultimately close the transaction. Even with the lending challenges, this is evidence of continued interest in quality retail 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.