Davenport retail center sells for over $2M
Elmore Avenue Shoppes in Davenport has sold for more than $2 million
Marcus & Millichap, a commercial real estate brokerage firm, announced the sale of six-unit retail center earlier this week. The property sold for $2,357,500.
"The prime location and strong historical occupancy of this center generated quite a bit of buyer interest," said Jeff Rowlett, senior managing director investments. "The listing went under contract quickly and closed within 50 days."
Rowlett had the exclusive listing to market the property on behalf of the seller, GPH Davenport Retail, LLC. Jon Ruzicka, Broker of Record in Iowa, assisted in closing the transaction.
The property was bought by Elmore Plaza, LLC, on Sept. 4, according to online property records. The LLC was formed earlier this year, according to its records with the Iowa Secretary of State's Office. The LLC's filings list the retail center as its principal office. Property records also reference an address in Johnston, Iowa.
Elmore Avenue Shoppes are located at 4810 Elmore Ave. just off Interstate 74. Tenants of the 9,835-square-foot retail strip include GameStop, Hungry Hobo, Computer Repair Center, Indy Smoke Time, Novel Nail Time and 100% Chiropractic.
