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Home > BizTimes Daily > Archives > August 20, 2007
Chicago investors buy Burlington mall
Published August 20, 2007 - BizTimes Daily
Chicago-based WexTrust Capital, through its affiliate S. Pine Street Investors LLC, has acquired the Pinecrest Shopping Center in Burlington.
The property includes two single-story retail buildings with a total of 102,054 square feet. Its 13 tenant suites are anchored by a Sentry Foods grocery store, and the shopping center has had a 100-percent occupancy rate since 2003.
Terms of the transaction were not disclosed.
Pinecrest is located along South Pine Street in Burlington.
"The Pinecrest Shopping Center is well-maintained and situated in a high-traffic area in the middle of commercial and residential spaces, making it an ideal investment," said Matt Gurvey, investment advisor for WexTrust Capital. "The mix of solid population growth and strong income levels makes the property a desirable retail location and should return a significant return on investment to our investors."
