Benenson Capital Partners Acquires Whole Foods Anchored Property In St. Charles For $17.3M

A retail property was sold at 300 South 2nd Street located in the St. Charles market for a total transaction amount of $17,300,000. The asset spans a total square footage of 30,505, resulting in a price per square foot of $567.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $17,300,000
• Buyer: Bruce W. Benenson, Frederick C. Benenson & Lawrence B. Benenson - Benenson Capital Partners
• Seller: Steven M. Swanson II - Swanson Development Group; Fort Union
• Brokers: Alex Sharrin, Mohsin Mirza & Torri Rosene - JLL
• Annual NOI: $864,000

The sellers, Swanson Development Group and Fort Union, acquired the site for $4,100,000 in 2023 and completed redevelopment for a Whole Foods tenant with a 20-year lease. JLL facilitated the transaction with a team of three brokers.