Ramco-Gershenson Buys Deer Grove Shopping Centre for $20 Million

Palatine, Ill. — C-III Asset Management sold the grocery-anchored center.

Palatine, Ill. — Ramco-Gershenson Properties Trust has purchased Deer Grove Shopping Centre, a 236,173-square-foot property in Palatine, for $20 million. Developed in 1996, the retail center is anchored by Dominick’s, a Chicago-based grocer, and T.J. Maxx/Home Goods, Petco and Staples. Target and Home Depot shadow-anchor the shopping center, which is 81 percent leased. Janice Sellis and Paul Barile of Transwestern’s Chicago office, along with C-III Realty Services, represented the seller, C-III Asset Management, in the transaction.