News: National News
Posted: June 17, 2022
Cleeman Realty Group brokers off-market sale of Johnstowne Mall in Shelbyville, Illinois
Shelbyville, IL Cleeman Realty Group negotiated the off-market sale of Johnstowne Mall. The 70,338 s/f shopping center was 74% occupied at the time of closing and featured a lineup of national tenants including Dollar Tree, O’Reilly Auto Parts and Ace Hardware. A County Market grocery store was the property’s anchor until 2017, leaving significant upside potential for the buyer. The property sits on an 8.89-acre site off West Main St.
Jeremy Scheer and Sam Seelenfreund of Cleeman Realty Group represented the buyer and seller in the transaction.
“The seller is the original developer of the property and felt it was a good time to capitalize on the sale of the asset,” said Seelenfreund.
MORE FROM National News
Quick Hits
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary