Acadia Strategic Opportunity Fund IV Acquires 272,060 SF Retail Center Near St. Louis for $35.4M

FAIRVIEW HEIGHTS, ILL. — Acadia Strategic Opportunity Fund IV has acquired Lincoln Place in Fairview Heights near St. Louis for $35.4 million. The 272,060-square-foot shopping center is located at 5905-6109 North Illinois St. Lincoln Place is nearly fully leased to a mix of national tenants, including Kohl’s, Ross, Old Navy, Marshalls, Famous Footwear, Five Below, Pier 1 Imports, Saint Louis Bread Co. and Mattress Firm, in addition to a separately owned Lowe’s, Chili’s and Chick-fil-A. Developed in 1999, the center was renovated in 2005. Amy Sands and Clinton Mitchell of HFF represented the seller, Spirit Realty Capital. Timothy Joyce of HFF secured a $23.1 million acquisition loan for the new owners. A national bank provided the five-year loan. Acadia Strategic Opportunity Fund IV is managed by Acadia Realty Trust.