Illinois

Alton, Ill. — Marcus & Millichap has brokered the $9.3 million sale of Oakwood Plaza, a 45,400-square-foot shopping center located in Alton, approximately 25 miles north of St. Louis. Built in 2005, the property features a mix of 16 tenants including Panera Bread, Spectrum, Dollar Tree and Great Clips. Chris Garavaglia and Alex Perez of Marcus & Millichap marketed the property on behalf of the seller, Commonwealth Commercial. Steven Weinstock was Marcus & Millichap’s broker of record in Illinois.

Chicago — Newmark has arranged the $41 million sale of the retail portion of 500 North Michigan Avenue along Chicago’s Magnificent Mile. The 21,565-square-foot space is fully leased to tenants such as Bank of America, Chick-fil-A and Vans. The property traded at a cap rate of 5.93 percent. Keely Polczynski of Newmark represented the undisclosed seller. The buyer was a private investor.

Colorado Springs, Colo. — CBRE has brokered the $20.5 million sale of the Shops at Dublin Commons, a 34,104-square-foot retail strip center located in Colorado Springs. Parker Brown, Matthew Henrichs and Brad Lyons of CBRE represented John Winsor of Olive Real Estate Partners in the transaction. Located at 5925 and 5935 Dublin Blvd., the center was built in 2016 and 2018. Tenants include Salsa Brava, Over Easy: A Daytime Eatery, Mod Pizza, Nothing Bundt Cakes, Massage Heights and Beauty Bar, according to LoopNet Inc.

Geneva, Ill. — Mid-America Real Estate has negotiated the sale of Randall Square, a 171,860-square-foot shopping center located in Geneva, roughly 40 miles west of Chicago. Alpharetta, Georgia-based Octave Holdings purchased the property for $29 million, according to public records. Joe Girardi and Emily Gadomski of Mid-America represented the seller, Cincinnati-based Viking Partners, in the transaction. Randall Square features a mix of tenants including Nordstrom Rack, Marshalls, Ulta Beauty, PetSmart, Skechers, Five Below, Uncharted and Old Navy.

Chicago — Greenstone Partners has brokered the $19.5 million sale of a 54,000-square-foot retail center located at 1415-1417 N. Kingsbury St. in Chicago’s Clybourn Corridor. A venture between Chicago-based Honore Properties and Peerless Development acquired the fully leased property. Danny Spitz and AJ Patel of Greenstone represented the seller, Los Angeles-based Westwood Financial, in the transaction, which marks the fourth acquisition in the immediate corridor for Honore and Peerless. Spitz previously represented the venture in the acquisition of the adjacent property at 821 W. Eastman St. Originally acquired by Westwood …

Oak Brook, Ill. — MetLife Investment Management has sold Overlook at Oakbrook, a 52,876-square-foot, unanchored retail strip center located in Oak Brook, roughly 20 miles east of Chicago. Overlook at Oakbrook spans seven buildings and was 94 percent leased to 13 tenants at the time of sale including Lazy Dog Restaurant and Bar, Panera Bread, Veterinary Emergency Group (VEG) and Guidepost Montessori. The property was completed in 2023, and is situated adjacent to Oakbrook Center, a 2 million-square-foot super-regional mall. Michael Nieder, Brian Page and Alex Sharrin of JLL’s Investment Sales …