Retail N Illinois

Greenstone brokers 1031 exchange of retail center in Galesburg, IL

Greenstone brokers 1031 exchange of retail center in Galesburg, IL,ph1

Greenstone Partners successfully sold a Goodwill-anchored retail center, located in Galesburg, Illinois, to a California-based investor. The multi-tenant shopping center is comprised of 17,800 square feet and host to eight retail tenants, of which the majority are considered e-commerce resistant, given they are service- or food-oriented retailers.

Galesburg is the county seat of Knox County and its retailers serve a population spanning a 45-mile radius. The property neighbors several national retailers such as Culvers, Dollar General, Big Lots, HyVee and more. The purchaser was also drawn to the investment given Goodwill’s long-term tenancy and small shop spaces with replaceable rental rates. Greenstone represented the seller, an Illinois-based partnership, and elicited multiple nationwide offers.