Mount Pleasant real estate activity booming this week

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A shopping center with Kohl’s as a tenant is part of one of the Mount Pleasant transactions.

Two multi-million dollar commercial real estate transactions have closed in Mount Pleasant.

Outlook Development group sold Racine Dental Group’s Mount Pleasant 57,000-square-foot office building, 1101 S Airline Road, for $23 million to San Diego-based LLJ Office Ventures.

Racine Dental Group moved into the newly-constructed facility in October 2014.

The other transaction was the Phillips Edison Grocery Center REIT II Inc. purchase of the Village Center at 5500 Washington Ave. for $31.75 million.

The 241,704-square-foot shopping center is anchored by Festival Foods and includes a Kohl’s, Ulta, Dress Barn, Panera Bread, Sally Beauty and Cost Cutters.

Phillips Edison purchased the property from DDR Corp. The acquisition was part of a six-grocery store transaction that increased Phillips Edison’s portfolio in California, Wisconsin and Florida.

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