Timber Development Co. Acquires Retail Center In Belleville For $6.5M With Broker Michael Austry

A retail center located at 5701-5875 Belleville Crossing Street in Belleville has been sold for $6.5 million. The asset encompasses 325,000 square feet and the sale reflects a price per square foot of $20. At the time of the purchase, the property was 60% leased, with notable anchors including Target, The Home Depot, and PetSmart.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $6,500,000
• Square Footage: 325,000
• Price per Square Foot: $20
• Buyer: Timber Development Co.
• Broker: Michael Austry - CBRE
• Market: Belleville

The transaction was facilitated by broker Michael Austry, who represented the interests of Timber Development Co. in the acquisition of the retail center. The deal highlights the active engagement of the brokerage in retail property transactions within the Belleville market.