Five Area Shopping Centers Sold for $50 Million

By on April 10, 2018

From St. Louis Post-Dispatch:  Five St. Louis-area shopping centers totaling nearly 540,000 square feet were sold in a deal involving two out-of-town property owners.

New York-based real estate investment trust Kimco Realty sold the retail portfolio for $49.5 million to Cincinnati-based real estate firm Select Strategies Realty. The deal closed March 30.

The properties included in the deal are the King’s Highway Shopping Center at 4930 Christy Boulevard in St. Louis, Overland Crossing at 8901 Page Avenue in Overland, Lemay Shopping Center at 1032 Lemay Ferry Road in Lemay, Creve Coeur Shopping Center at 955 Woodcrest Executive Drive in Creve Coeur, and Fairview Heights Centre at 6569 North Illinois Street in Fairview Heights.

Tenants in those shopping plazas, which combined are 97 percent leased, include The Home Depot, Fresh Thyme Farmer’s Market, Kohl’s, Dick’s Sporting Goods, Burlington Coat Factory and Shop ’n Save, among others.

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