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The Promenade Bolingbrook
EntertainmentIllinoisLeasingNewsRestaurantsRetailers

Brookline, Rhino Investments to Renovate 778,000-Square-Foot Shopping Center in Metro Chicago 

by Abby Cox

Bolingbrook, Ill. — Brookline Real Estate has partnered with Rhino Investments Group to renovate The Promenade Bolingbrook, a 778,000-square-foot shopping center located in the Chicago suburb of Bolingbrook. Brookline has been hired to oversee leasing and lead a new vision for the open-air lifestyle center with a refreshed mix of retail, service, restaurants and experiential offerings. The center is anchored by Macy’s and Bass Pro Shops, and includes a number of specialty retailers including H&M, Ulta Beauty, DSW, Barnes & Noble, Lane Bryant, Pandora and Victoria’s Secret.

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Eidi Properties portfolio
IllinoisIndianaInvestment salesMichiganNewsNorth CarolinaVirginia

Eidi Properties Acquires 39 Shopping Centers Totaling 650,257 Square Feet Across Six States

by Abby Cox

Toledo, Ohio — Toledo-based Eidi Properties has acquired 39 shopping centers totaling 650,257 square feet across Illinois, Florida, Virginia, Michigan, North Carolina and Indiana. This transaction, which features a mix of power centers, grocery-anchored plazas and community hubs, brings Eidi’s portfolio to nearly 80 retail properties and more than 1.5 million square feet. The properties were all purchased from Dembs Development. Joel Jerger of WesBanco, Andy Maher and Brian White of Waterford Bank, N.A., as well as John Skeldon and Joe Bajas of Cooperative Business Services (CBS), all based in …

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Northpoint Center
Grocery-anchoredIllinoisInvestment salesNewsRhode Island

Joint Venture Acquires Two Shopping Centers Totaling 428,928 Square Feet in Rhode Island and Illinois

by Abby Cox

Warwick, R.I. and Arlington Heights, Ill. — A joint venture between Dallas-based Encore Enterprises Inc. and AmCap Management Holdings LLC, a subsidiary of Stamford, Connecticut-based AmCap Management LLC, has acquired two grocery-anchored shopping centers in Rhode Island and Illinois totaling 428,928 square feet. The properties are Cowesett Corners in the Providence suburb of Warwick and Northpoint Center in the Chicago suburb of Arlington Heights. Cowesett Corners is anchored by Stop & Shop and totals 152,595 square feet. Additional tenants at the center include PetCo, Five Below and Oak Street Health. The …

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Bricktown Square Shopping Center
DevelopmentIllinoisNews

NewMark Merrill Companies Plans $1.5 Million Renovation for Bricktown Square Shopping Center in Chicago

by Abby Cox

Chicago — NewMark Merrill Cos. has unveiled plans for a $1.5 million renovation of Bricktown Square Shopping Center, a 292,309-square-foot retail center located in northwest Chicago. Renovations to the center will include exterior improvements, additional signage and wayfinding, as well as updated paint and color schemes. NewMark Merrill will also combine two existing spaces to form a single, larger space that will house a new Skechers store. Additionally, Japanese restaurant Okini Buffet and Kinship Health will join Bricktown Square’s tenant lineup later this year, bringing the center’s occupancy to 98 …

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Wood River Plaza
IllinoisInvestment salesNews

Broad Reach Retail Partners Sells 65,838-Square-Foot Shopping Center in Metro St. Louis

by Abby Cox

Wood River, Ill. — Broad Reach Retail Partners has sold Wood River Plaza, a 65,838-square-foot shopping center located in Wood River, approximately 15 miles northeast of downtown St. Louis. Broad Reach originally acquired the property in 2017. The center — which was 88.4 percent leased at the time of sale — is shadow-anchored by a Walmart Supercenter. Tenants at the property include Five Below, Edward Jones, Great Clips, Subway, Sally Beauty, Dollar Tree, H&R Block, America’s Best Contacts & Eyeglasses, Help at Home and GameStop.

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Gateway Shoppes at Five Points
FinanceIllinoisInvestment salesNews

Marcus & Millichap Arranges Sale, Financing of Retail Property in Urbana, Illinois

by Abby Cox

Urbana, Ill. — Marcus & Millichap has brokered the $3.4 million sale of Gateway Shoppes at Five Points, a 12-suite retail property located in Urbana. Built in 2011, the center comprises two multi-tenant strip centers totaling roughly 30,000 square feet. The property was 95 percent leased at the time of sale. Jeremie Johnson and Nathan Whalen of Marcus & Millichap represented the seller, Prairie Holdings Newton LLC, in the transaction. David O’Keefe, Steve Bogoyevac and Johnathan Weir of Marcus & Millichap procured the buyer, Nikolas Chugay. Michael Derk of Marcus …

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Company newsIllinoisNew YorkNews

Sycamore Partners Agrees to Acquire, Privatize Drugstore Giant Walgreens in Multibillion-Dollar Deal

by Abby Cox

Deerfield, Ill. and New York City — Walgreens Boots Alliance (WBA) has entered into a definitive agreement to be acquired by an entity affiliated with private equity firm Sycamore Partners. The total value of the transaction is $23.7 billion, according to WBA, including an equity value of $10 billion, as well as debt, capital leases and potential future payouts from the opioid and Everly Health Solutions COVID-19 testing settlements. Upon completion of the transaction, which is expected to close in the fourth quarter of 2025, WBA common stock will be …

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IllinoisNet leaseNews

JLL Arranges Sale-Leaseback of 165 Retail Bank Branches for $467 Million

by Abby Cox

Chicago — JLL Capital Markets has arranged the sale-leaseback of 165 SouthState retail bank branches for $467 million. The portfolio spans roughly 1.2 million square feet across six states — Alabama, Georgia, Florida, North Carolina, South Carolina and Virginia — and will operate on a 15-year, triple-net lease basis with annual rent increases of two percent. SouthState will continue to operate branches at each of the locations with no changes to its products or service offerings. Alex Sharrin, Coler Yoakam, Brian Shanfeld, Jeffrey Cicurel, Josh Katlin, Michael Roberts, Josh Hirsch and Andrew …

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Company newsDevelopmentGrocery-anchoredIllinoisNews

ALDI to Add 225 New Stores in 2025

by Abby Cox

Batavia, Ill. — German discount grocery store chain ALDI has plans to open more than 225 new store locations in 2025 as part of its five-year national growth strategy. The new stores will comprise original ALDI supermarkets and the conversion of select Winn-Dixie and Harveys Supermarket stores. Approximately 220 Southeastern Grocers locations will be converted to the ALDI format through 2027. As part of the strategy, ALDI has closed a transaction to divest approximately 170 Winn-Dixie and Harveys Supermarket stores that are not part of the ALDI conversion plan to …

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Bloomingdale Shopping Center
IllinoisInvestment salesNews

Quantum Real Estate Brokers $4.2 Million Sale of Shopping Center in Bloomingdale, Illinois

by Abby Cox

Bloomingdale, Ill. — Quantum Real Estate Advisors has brokered the $4.2 million sale of a shopping center located in Bloomingdale, roughly 25 miles northwest of downtown Chicago. The property — which totals 25,000 square feet — was 95 percent leased at the time of sale. Brett Berlin of Quantum Real Estate represented the undisclosed seller in the transaction. The buyer was an Illinois-based private investor.

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