The Palomar Group Facilitates Sale of Walmart-Shadow-Anchored Wood River Plaza in Wood River, IL

The Palomar Group, a full-service commercial investment sales firm, is proud to announce the successful closing of Wood River Plaza, an 88%-occupied retail center located at 662 Wesley Drive, Wood River, IL. Shadow-anchored by Walmart, the property is part of the St. Louis MSA and features notable tenants such as Five Below and Dollar Tree, with 63% of the gross leasable area (GLA) occupied by national retailers.

The transaction closed on January 23, 2025, with the buyer being a Maryland-based fund and the seller a Michigan-based family office. This milestone marks The Palomar Group’s first transaction in Illinois, increasing the firm’s reach to 19 states and further establishing its national presence.

“We are excited to announce the sale of Wood River Plaza,” said Steve Collins, Partner at The Palomar Group. “We appreciate the seller giving us the opportunity to work on this deal. We continue to see good activity on centers that are well priced within the market and are expecting an uptick in activity over 2024.”

About The Palomar Group:

Headquartered in Augusta, GA, The Palomar Group is a full-service commercial investment sales firm specializing in the sale of single-tenant, multi-tenant, and multifamily properties across the United States. With a proven track record of over $1.5 billion in transactions spanning 19 states and 13.5 million square feet of retail and multifamily properties, The Palomar Group is dedicated to aligning buyers and sellers for successful outcomes through tailored market strategies and unparalleled client service.

For more information about this transaction or other opportunities, please contact The Palomar Group at te**@th*************.com or visit www.thepalomargroup.com.