In 2018, Brookstone, the former tenant, filed for bankruptcy for a second time and closed all mall stores. Since then, they relocated their headquarters, leaving this beautiful 3-story building vacant. With the pandemic behind us, and businesses altering their office space needs, Brady Sullivan Properties decided it was time to turn this former headquarters into beautiful apartment homes.
Encore Commercial, LLC announces the sale of two triple net-leased retail properties, Trader Joe’s and Friendly Toast, tenants in the Market and Main mixed-use development. The anchor tenants were purchased by the tenants themselves, with Trader Joe’s selling at a market-leading capitalization rate of 4.9%.