Realty Income Corporation Purchases La-Z-Boy Gallery At 3440 Wabash Avenue For $5,279,222

The property asset involved in the transaction is a retail location situated at 3440 Wabash Avenue in Springfield. The deal transpired for a total price of $5,279,222, marking it as a premium-priced investment within a commercial corridor on the West Side.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $5,279,222
• Buyer: Realty Income Corporation
• Seller: La-Z-Boy Incorporated

This transaction illustrates the ongoing institutional interest in net-lease retail assets, with Realty Income Corporation representing a continued demand for long-term leases. The tenant is anticipated to remain in place following the ownership change, underscoring the appeal of this type of asset to investors.