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Quantum Real Estate Advisors brokers sale of five-property Midwest retail portfolio
The shopping center portfolio totals about 67,000 square feet across Illinois, Ohio, and Wisconsin, with embedded rent growth tied to leases rolling over the next one to three years.
Quantum Real Estate Advisors, Inc. brokered the sale of a five-property shopping center portfolio spanning the Midwest, located in Illinois, Ohio, and Wisconsin. The portfolio comprises roughly 67,000 square feet.
According to ConnectCRE, the transaction included a tenant mix covering local, regional, and national operators.
ConnectCRE said the buyer is a global real estate investment manager focused on acquiring niche property types, including essential service retail. The seller is a private syndicator based on the East Coast.
The deal team representing the seller included Dan Waszak, Executive Vice President, and Brett Berlin, Senior Vice President. Berlin said the portfolio attracted attention for its embedded rent growth, pointing to leases rolling across the centers over the next one to three years and the resulting mark-to-market opportunities to support net operating income and improve operations.