Lombard, Ill. — Marcus & Millichap has brokered the $5.6 million sale of Highlands of Lombard, a 16,223-square-foot strip center located in the Chicago suburb of Lombard. Built in 2007, the six-suite property is situated across from Yorktown Center mall. The property — which was fully occupied at the time of sale — features a mix of food, health and service-based tenants. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap procured the out-of-state buyer and represented the seller, a Chicago-based private investor who had owned the property …
Illinois
Peoria, Ill. — Peoria, Illinois-based Cullinan Properties has appointed Maria Toliopoulos as chief strategy officer. Toliopoulos is an industry veteran with more than 20 years of leadership experience in real estate strategy, leasing and legal counsel. In her new role, she will be responsible for expanding Cullinan’s footprint while advancing the company’s growth initiatives. Toliopoulos joined Cullinan after most recently leading her own consulting firm, The Hyperion Group. Prior to that, she served as senior vice president of real estate at Ashley Global Retail and spent a decade at Retail Properties …
Aurora, Ill. — Locally based Quantum Real Estate Advisors Inc. has arranged the $2.8 million sale of Eola Crossing, a 14,238-square-foot retail center located in Aurora, roughly 40 miles west of Chicago. At the time of sale, the property was 90 percent leased to tenants such as Subway, Dunkin’, Wing Snob and Smile Family Dental. Dan Waszak and Brett Berlin of Quantum represented the seller, a Florida-based public REIT. The buyer was an Illinois-based private investor.
Marcus & Millichap Brokers $13.4 Million Sale of Shopping Center in Bloomington, Illinois
Bloomington, Ill. — Marcus & Millichap has brokered the $13.4 million sale of Bloomington Commons, a grocery-anchored shopping center located in Bloomington. The 15-tenant property, which totals 132,966 square feet, is anchored by Schnucks. Other tenants include Barnes & Noble, The UPS Store, Kumon Math & Reading Center, Chuck E. Cheese and H&R Block. Schnucks, an anchor tenant since 1989, recently renewed its lease for 10 years. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local developer that sold the property after an eight-year hold …
Plainfield, Ill. — Locally based Quantum Real Estate Advisors has brokered the $9 million sale of a 55,073-square-foot retail center in Plainfield, about 40 miles southwest of Chicago. Located at 12337 S. Route 59, the property was 97 percent leased at the time of sale to tenants such as Enterprise, One Main Financials, Chop’d and Khaos Brewcade & Kitchen. Brett Berlin of Quantum brokered the transaction. An Illinois-based private investor purchased the property from a local family development company based in Chicago’s western suburbs.
Claire’s Files for Chapter 11 Bankruptcy Again for U.S. Operations, Aims to Close Underperforming Stores
Hoffman Estates, Ill. — Claire’s U.S., the operator of Claire’s and Icing stores across the United States, has filed for Chapter 11 bankruptcy protection in Delaware. The jewelry retailer listed both its liabilities and assets between $1 billion to $10 billion. Hoffman Estates-based Claire’s previously filed for Chapter 11 bankruptcy in 2018. Claire’s says that the proceedings will enable the company to immediately commence the monetization process for its assets to maximize value for the business. The retailer is continuing a comprehensive review of strategic alternatives, including discussions with potential …
Kidder Mathews Arranges $75.9 Million Sale of 10-Property Retail Portfolio Totaling 322,304 Square Feet
San Diego, Calif. — Kidder Mathews has arranged the $75.9 million sale of a 10-property, single-tenant net leased retail portfolio totaling 322,304 square feet. The portfolio spans five states — including Colorado, Illinois, Nevada, Texas and Wisconsin — and features five Albertsons-guaranteed grocery stores, four auto service centers and one Dutch Bros Coffee shop. Paul Danker of Kidder, along with Scott Reid of Parasell Inc. and John Nesbitt, Kristen Zimmerman and Remy Tams of Designated Broker Solutions, represented the seller, a private investor.
Mid-America Real Estate Brokers Sale of 67,146-Square-Foot Retail Center in Oak Brook, Illinois
Oak Brook, Ill. — Mid-America Real Estate Corp. has brokered the sale of The Oaks of Oak Brook, a 67,146-square-foot retail center located in the Chicago suburb of Oak Brook. The property was 98 percent leased to tenants including Athletico, Activate Games, NxStage Kidney Care, Blackberry Market, Erik’s Bike Board & Ski and OrthoLazer at the time of sale. Joe Girardi and Emily Gadomski of Mid-America represented the seller, Newport Capital Partners, in the transaction. The property sold to a private buyer.
Chicago — WS Development has signed leases with 13 new tenants at Plaza del Lago, a 100,000-square-foot shopping center located in the Chicago suburb of Wilmette. As part of its ongoing redevelopment project, the center’s tenant lineup will now feature a mix of local and national brands including Oscar de la Renta, Space 519, Cynthia Rowley, Hill House Home, James Perse, Jenni Kayne, La Vie Style House, LoveShackFancy, Peter Millar, Pilatesville, Rag & Bone, Studs and Veronica Beard. New tenant stores will begin opening this month. Originally opened in 1928, …
Brookline, Rhino Investments to Renovate 778,000-Square-Foot Shopping Center in Metro Chicago
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.