The Crossroads Center shopping center at 10850 Lincoln Trail in Fairview Heights has been sold for $2.3 million.
The center, which originally was anchored by a Kmart store, was sold by Malan Realty Investors Inc. of Bingham Farms, Mich. In a news release announcing the sale, Malan said the company sold the shopping center and a piece of vacant land in Lawrence, Kan., for a total of $2.9 million.
Malan spokesman Fred Nachman said Rubloff Realty, based in Chicago, is the new owner.
Kmart moved from the center to the former Venture store across Lincoln Trail in late 1998. In June 1999, Hobby Lobby moved into the old Kmart space.
Other tenants include Chuck E. Cheese’s, T.J. Maxx, Hometown Buffet and a U.S. Postal Service store.
Fairview Heights Mayor Gail Mitchell said he was not aware of the transaction, but said, “I hope it’s good news for us.”
Malan Realty Investors owns and manages properties that are leased primarily to national and regional retail companies. The company owns 26 properties in eight states.
In August 2002, Malan’s shareholders approved a plan of complete liquidation.
