News
Streeterville Retail Asset Sells For $133M
Gold Coast Realty
Madison Capital bought Sullivan Center last month in a rumored $267M deal. Apparently, that was the start of a spending spree. The firm just shelled out $133M for a hot Streeterville retail asset.
River East Center is anchored by a 21-screen AMC movie theater and Lucky Strike Bowl. The seller, Boston-based Intercontinental Real Estate, paid $118M for the property in 2006. River East Center also contains over 1,100 underground parking spaces.
The sale price averages to around $530/SF, Crain's reports. In addition to its new buys, Madison Capital owns the retail component to the John Hancock Center, 10 S State's retail and assets in Fulton Market it's redeveloping. [Crain's]
