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JLL Brokers $21M Sale of 137K-SF Retail Center in East Peoria
JLL has arranged the $21.05 million sale of The Levee District, a 137,304-square-foot, open-air retail power center in East Peoria, Illinois.
JLL’s Capital Markets Investment Sales and Advisory team, led by Senior Director Michael Nieder and Director Brian Page, represented the seller and procured the buyer, Chase Properties. The Levee District sits on 11.06 acres at 322-470 West Washington St. in East Peoria. The property has a prime location with easy access to major interstates and draws from a trade area of more than 225,000 residents.
Developed in 2013, The Levee District consists of three buildings that are 94% leased, with anchor tenants, including Ulta, Best Buy, Ross Dress for Less, and Boot Barn. The property is also shadow-anchored by Target, McDonald’s, Panera, Red Robin and more.
“This opportunity attracted interest from a wide variety of groups and ultimately proved to be an excellent fit for Chase Properties, which is expanding its current portfolio of retail properties in the Midwest,” said Page.
