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Chicago & Midwest  + Midwest  + Retail  | 

Elkhart Mall Trades to be Repositioned

Concord Shopping Center, a 601,205-square-foot center at 3701 S. Main St. in Elkhart, IN, has changed hands. The buyer was not disclosed.

Tim Franz and Matt McParland of SVN Chicago Commercial represented the undisclosed seller in the transaction. The 54% occupied center sold for $8,000,000.

“Concord Shopping Center offers tremendous upside, as we continue to see investors get creative in the redevelopment of malls,” said Franz. “While there are short-term challenges, the underlying real estate still holds value as malls are typically at the epicenter of regional markets.”

He added, “It is my understanding that the new ownership group plans on repositioning the asset around a new grocery chain operated by one of the principals.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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