Mid-America Real Estate Corporation Executes Sale of Grocery Anchored Center in Freeport, Illinois
November 7, 2022
Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of Freeport Plaza, an 87% leased grocery anchored center located in Freeport, Illinois. The 87,846-square-foot property was sold to CRE Pro.
Freeport Plaza is anchored by a 62k SF Cub Foods that is open 24/7, providing strong drawing power to the center from Freeport and the surrounding communities. The grocer is a wholly owned subsidiary of UNFI (NASDAQ: UNFI), the largest publicly traded wholesale distributor of health and specialty food in the United States and Canada. Cub Foods recently extended their lease to 2027 reflecting their commitment to the site.
Mid-America Real Estate Corporation Principal Rick Drogosz and Vice President Emily Gadomski were the exclusive brokers in the transaction on behalf of a publicly traded REIT.
About Mid-America Real Estate
Mid-America Real Estate is #1 in retail real estate services in the Midwest, with full-service offices in Illinois, Michigan, Minnesota and Wisconsin. Our exclusive focus on retail property, combined with cutting-edge technology and unsurpassed service, distinguishes Mid-America within the industry and provides clients with a competitive edge. Mid-America leases and manages more than 60 million square feet of retail space, and represents over 270 retailers and other tenants.
Mid-America’s Investment Sales Group represents clients in the sale of retail properties throughout the greater Midwest region. The Investment Sales Group’s strategic approach combines outstanding national exposure with the best local knowledge, resulting in the successful disposition of over $13 billion to date. For more information, visit www.midamericagrp.com.
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