BRIDGETON, MO-The Love Cos. has sold the 193,543-square-foot Plaza at DePaul retail center here for $19.8 million. New York City-based Lightstone Group, through its non-traded REIT Lightstone Value Plus Real Estate Investment Trust, bought the site, using a CMBS loan assumption of $11.8 million.

Love, based in St. Louis, developed the center, located at St. Charles Rock and McKelvey roads. The property is anchored by Aldi and a Kohl’s Department Store, which recently underwent a remodel and executed a 10-year lease extension.

Brett Chetek, a first vice president at CBRE, represented Love in the sale. The property is 87% occupied, sold for $105 per square foot, is next to the Depaul Health Center and down the street from newer retail, Chetek tells GlobeSt.com. “THF Realty is building a Walmart Supercenter just east of the Plaza,” he says. “Credit-orientated retail properties such as this, in strong locations, are doing well in the St. Louis area, it’s the lesser product that has mostly local tenants that is suffering. If you’ve got a property with a Kohl’s or a strong grocer, there’s a lot of investor demand.”