The Shoppes & The Plaza at College Hills in Bloomington-Normal, Illinois has been picked up by New York-based by ALTO Real Estate Funds in a $22.9 million transaction. The 246,245 square foot shopping center was acquired with an occupancy rate of 97 percent. Featuring 246,245 square feet of retail space, the center is anchored by Hobby Lobby, as well as shadow anchors Target and Von Maur. Other national tenants in the scheme include Francesca’s, Chico’s, J. Jill and White House Black Market. Located at 314 South Towanda Avenue in central Illinois, the town is also home to Illinois State University, as well as to the corporate headquarters of Country Financial and State Farm Insurance. M&J Wilkow will manage the shopping center, and The Pollard Group will serve as leasing agent.
Scott G. Onufrey, ALTO’s President & Managing Partner said “The College Hills investment is consistent with ALTO’s philosophy of acquiring well positioned assets that will generate consistent cash flow with the benefit of opportunities to add value through active management. M&J Wilkow is a proven, first class operator and we look forward to growing our partnership with them.”
