Thompson Thrift Retail Group Sells Multi-Tenant Retail Center in Mattoon, Illinois

Located at 1023 Charleston Avenue East, the approximately 9,800-square-foot building is fully leased to Starbucks, Jersey Mike’s, Great Clips, AT&T and OSF Healthcare.

The Shops at Mattoon Marketplace was built in 2017 by Thompson Thrift, and is an outlot of Mattoon Marketplace, a PetSmart and Dollar Tree anchored shopping center developed and sold by Thompson Thrift in 2015. Oakbrook Terrace, Illinois-based Mid-America Asset Management, Inc. was responsible for leasing efforts at The Shops.

“The sales price is borne of the quality of the real estate in a strong retail trade corridor,” said Brad Bisser, senior vice president property management with Thompson Thrift. “This property enjoys easy access from heavily traveled Charleston Avenue and great exposure from a number of nearby national credit tenants.”

TTRG is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. During the past 30+ years, Thompson Thrift has invested more than $2.2 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive retail and multifamily projects.

Emily Gadomski and Rick Drogosz with Mid-America Real Estate Corporation represented TTRG on the sale. Matt Brooks with Faris Lee Investments represented the buyer on the sale.

“The Shops at Mattoon Marketplace provides the new owner with a stable investment opportunity featuring an ideal lineup of service, food & beverage and medical retailers, which appeals to a large consumer base,” said Emily Gadomski, associate vice president with Mid-America Real Estate Corporation. “Anchored by a strong performing Starbucks (with drive thru) and featuring brand new leases from Jersey Mike’s and OSF HealthCare, the property is conveniently located in the heart of the established Mattoon retail trade area in southern Illinois.”