Illinois

Wood River Plaza

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

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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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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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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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

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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Northbrook, Ill. — New York City-based Newmark and Illinois-based Hilco Real Estate has begun marketing 121 JCPenney stores for sale on behalf of the Copper Property CTL Pass Through Trust, a trust owned by JCPenney and managed by Hilco JCP LLC, an affiliate of Hilco Real Estate. JCPenney — which is owned by a joint venture between Simon Property Group and Brookfield Asset Management — operates the stores on an absolute triple-net master lease. The retail portfolio, which averages 130,000 square feet per store, includes 21 stores in Texas, 19 …

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Wheaton, Ill. — JLL Capital Markets has secured a $41.7 million financing of Danada Square West, a 314,819-square-foot grocery-anchored shopping center located in Wheaton, roughly 25 miles west of Chicago. DLC Management Corp. is the borrower. Constructed in 1988, the center — which was 92.7 percent leased at the time of sale — is anchored by Jewel-Osco. Other tenants at the property include T.J. Maxx, HomeGoods, Burlington, The Paper Store, Ulta Beauty and Five Below. Scott Aiese, Christopher Knight and Alex Staikos of JLL represented the borrower in arranging the …

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Oak Brook, III. —  Pine Tree has received a $247 million loan from New York Life Real Estate Investors for portfolio of six shopping centers located in Florida, Arizona, Oregon and Ohio. Pine Tree acquired the properties earlier this year in partnership with an undisclosed state pension fund for $495 million. The centers include The Fountains in Plantation, Florida (430,000 square feet); Arrowhead Crossing in Phoenix (362,000 square feet); Easton Market (501,000 square feet) and Polaris Towne Center (459,000 square feet) in Columbus, Ohio; Kenwood Square in Cincinnati (424,000 square feet); and Tanasbourne Town Center in Hillsboro, Oregon (300,000 square feet). Tenants at the centers, which were 95 percent leased at the time of financing, include Nordstrom Rack, Ulta Beauty, Target, Dick’s Sporting …

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Retail-Center_Aurora-Ill

Aurora, Ill. — Marcus & Millichap has negotiated the sale of a six-tenant retail center located in Aurora. Built in 2010, the property totals 12,684 square feet. A private investor acquired the center, which was fully occupied at the time of sale, for $3.4 million. Coult Greenwell and Mitchell Kiven of Marcus & Millichap represented the seller in the transaction. 

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