Thompson Thrift Retail Group Sells Multi-Tenant Retail Building Near Indianapolis

News provided by

Feb 08, 2021, 09:00 ET

INDIANAPOLIS, Feb. 8, 2021 /PRNewswire/ -- Thompson Thrift Retail Group (TTRG), a wholly owned company of Indianapolis-based Thompson Thrift, announced today that it sold The Shops at Mattoon Marketplace, a multi-tenant retail center in Mattoon, Illinois for $3.735 million to a private buyer.

Located at 1023 Charleston Avenue East, the approximately 9,800-square-foot building is fully leased to Starbucks, Jersey Mike's, Great Clips, AT&T and OSF Healthcare.

The Shops at Mattoon Marketplace was built in 2017 by Thompson Thrift, and is an outlot of Mattoon Marketplace, a PetSmart and Dollar Tree anchored shopping center developed and sold by Thompson Thrift in 2015. Oakbrook Terrace, Illinois-based Mid-America Asset Management, Inc. was responsible for leasing efforts at The Shops.

"The sales price is borne of the quality of the real estate in a strong retail trade corridor," said Brad Bisser, senior vice president property management with Thompson Thrift. "This property enjoys easy access from heavily traveled Charleston Avenue and great exposure from a number of nearby national credit tenants."

TTRG is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. During the past 30+ years, Thompson Thrift has invested more than $2.2 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive retail and multifamily projects.

Emily Gadomski and Rick Drogosz with Mid-America Real Estate Corporation represented TTRG on the sale. Matt Brooks with Faris Lee Investments represented the buyer on the sale.

"The Shops at Mattoon Marketplace provides the new owner with a stable investment opportunity featuring an ideal lineup of service, food & beverage and medical retailers, which appeals to a large consumer base," said Emily Gadomski, associate vice president with Mid-America Real Estate Corporation. "Anchored by a strong performing Starbucks (with drive thru) and featuring brand new leases from Jersey Mike's and OSF HealthCare, the property is conveniently located in the heart of the established Mattoon retail trade area in southern Illinois."

About Thompson Thrift Real Estate Company

Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Houston and Phoenix. Three service pillars drive Thompson Thrift's success—Thompson Thrift Retail Group which is focused on ground-up commercial development, Watermark Residential which is focused on upscale multifamily communities and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail and office projects across the country. We are passionate about our customer's success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve. For more information, please visit www.thompsonthrift.com.

About Mid-America Real Estate Group

Mid-America Real Estate Corporation is a member of Mid-America Real Estate Group, a ChainLinks affiliate headquartered in Chicago. The company is the Midwest's leading full-service retail real estate organization with offices in Oakbrook Terrace, Illinois; Chicago; Milwaukee; Minneapolis and Detroit. For more information, call (630) 954-7300 or visit www.midamericagrp.com.

Contact:
Jennifer Franklin
Spotlight Marketing Communications
949.427.1385
[email protected]

SOURCE Thompson Thrift