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Shootin' Fish in a Tank; The Deal Sheet

Dallas-Ft. Worth

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Shootin' Fish in a Tank; The Deal Sheet
C&W's Dallas capital markets group repped the seller of the the 1M SF  REO Charlestowne Mall  in St. Charles, Ill, Cushman Dallas investment sales specialist  Tom Salanty  tells us. He adds, like fish chasing a lure, multiple bidders, including some well-known Chicago developers, put in bids. An  LA-based investment group got the bite.
 
Charlestowne Mall
It sold for an undisclosed cost. The Cushman team repping seller Midland Loan Services was led by Stephannie Mower, with Tom and  Brandon Beeson. Chicago-based Ken Szady and Jim Carpenter  also supported the deal. The mall is anchored by Carson Pirie Scott, Classic Cinemas, Kohl's, Sears, and Von Maur. The new ownership group, fronted by investors Bobby Montanye and Alan Wong, plans to revitalize the mall as they have done with distressed properties on the West Coast. Stephannie tells us the mall has affluent demographics and is well located for strategic redevelopment. C&W has been marketing the property for about nine months.