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.