Lincoln Buys 196,488-Square-Foot Shopping Center in Louisville, Kentucky, for $36 million
Lincoln Property Company Southeast (Lincoln) has acquired the 196,488-square-foot Jefferson Commons, a neighborhood shopping center located in Louisville, Kentucky on behalf of American Realty Capital – Retail Centers of America I & II, a publicly registered, non-traded REIT. GBT Realty Corp. sold the property for $36 million.
Jefferson Commons is conveniently located minutes from I-65, I-265 and the Louisville International Airport. Academy Sports + Outdoors anchors the center, and additional retailers include hhgregg, Michaels and Shoe Carnival.
American Realty Capital – Retail Centers of America I & II seeks to acquire existing anchored, stabilized, retail properties, including power centers, lifestyle centers, grocery-anchored shopping centers and other need-based shopping centers located in the United States. The REIT currently owns more than 25 properties across the country.
“The retail sector continues to show strong signs of improvement, and well-tenanted assets in good locations are in high demand,” said Tony Bartlett, senior vice president of Lincoln. “Jefferson Commons includes an excellent tenant mix and a centralized location that was appealing to us as a buyer.”