Cleeman Realty Group is pleased to announce the off-market sale of Johnstowne Mall in Shelbyville, Illinois. The 70,338 SF shopping center was 97% occupied at the time of closing and featured a strong lineup of national tenants including Dollar Tree, O’Reilly Auto Parts and Ace Hardware. The property sits on an 6.16-acre site off the highly trafficked West Main Street. The sale marks the second time Cleeman Realty Group has sold the property in just over three years.
Jeremy Scheer and Sam Seelenfreund of Cleeman Realty Group represented the buyer and seller in the transaction.
“The Seller executed their value-add strategy for the property and felt it was a good time to capitalize on the sale of the asset,” said Scheer.
Cleeman Realty Group is a full-service real estate advisory and investment group, specializing in the investment sales of retail, multifamily and industrial properties throughout the United States. The Cleeman team utilizes deeply rooted industry contacts to identify and evaluate off-market transactions with unparalleled efficiency. To sell your property or to inquire about our available acquisition opportunities, please contact one of our team members at www.cleeman.com