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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
- ◦Sale/Acquisition

