Romanek Properties has sold a 12-building portfolio of office and retail properties located in Champaign, Ill., for a price of $42 million.
The 241,198-square-foot Champaign portfolio, located adjacent to the University of Illinois’ main campus, was 100 percent occupied at the time of sale. The office portion of the portfolio represents the multitenant portion of the total development. The retail portion of the portfolio, The Shoppes of Knollwood, is an upscale retail center that was developed to serve the southern end of Champaign-Urbana and the University of Illinois campus.
An unidentified California-based family trust purchased the portfolio, which Romanek had owned since 2005.