Hendricks Commercial Properties has sold the property at 1223 Park Avenue in Beloit, Wisconsin, to AVINUGC, LLC, a limited liability corporation based in New Jersey. The transaction, valued at $1.9 million, marks a significant development for the area, particularly as it follows the announcement that Dollar Tree will be the new tenant in the space.
The building had been unoccupied since June 20, 2019, when Save A Lot closed its grocery store. In March, Hendricks Commercial Properties confirmed that Dollar Tree would open its third location in Beloit at this site, located directly across from Fairbanks Morse Defense. The new Dollar Tree store welcomed customers in late summer, revitalizing the long-vacant premises.
In November, the sale of the property to AVINUGC, LLC was officially recorded in Rock County real estate documents. The firm traces its origins back to a couple from Lakewood, New Jersey. This acquisition represents the eleventh real estate transaction in the Stateline Area exceeding $1 million, with Hendricks Commercial Properties involved in three of these notable sales.
Hendricks Commercial Properties has been active in the local real estate market. Earlier in the year, Valmet acquired a property located at 1280 Willowbrook Road for $9.2 million. Additionally, in January, Richardson Development LLC, a division of Hendricks, sold 30.7 acres on Willowbrook Road in South Beloit to Woodman’s Markets for $8.8 million.
Other recent significant transactions in the area include:
– $4.8 million for properties on Metalmark Lane in Roscoe
– $4.3 million for a medical clinic at 1400 E. Inman Parkway in Beloit
– $3.67 million for a quarry at 1620 E. L-T Towline Road in the Town of Turtle
– $2.69 million for a bus terminal at 720 N. Blackhawk Blvd. in Rockton
– $1.6 million for funeral homes located at 1000 E. Inman Parkway in Beloit and 502-504 Milwaukee St. in Clinton
The revitalization of the Park Avenue property is poised to enhance the local economy, providing residents with new shopping options. The Dollar Tree’s opening is a welcomed addition to the community, potentially boosting foot traffic and business for neighboring establishments.
As the real estate landscape continues to evolve in the Stateline Area, these transactions underscore the ongoing investment and interest in the region, reflecting a broader trend of growth and development.
