Alsip, Ill. — Lee & Associates has arranged the $1.8 million sale of a retail pad located in Alsip, roughly 25 miles southwest of Chicago. A Belle Tire location will be developed on the 1-acre site, which was previously occupied by Bakers Square Restaurant. Rick Scardino of Lee & Associates represented the seller, Orion Capital, in the transaction. Dave Chopp and Ryan Chopp of DRC Realty represented the buyer, Barnes Development Co. doing business as Belle Tire.
Chicago — A joint venture between Hubbard Street Group and College Park Athletic Clubs has announced plans to open a 41,000-square-foot pickleball-themed sports and entertainment center in Chicago. Dubbed Pickle Haüs, the concept will occupy a former retail store and feature 12 indoor pickleball courts, three golf simulators, an outdoor patio and a bar, entertainment and event space. Hubbard Street has owned the vacant building since 2018, and construction is currently underway on the property. The project team also includes Food is Family, Harken Interior Design, Hirsch MPG, William A. Randolph …
Chicago — SRS Real Estate Partners has brokered the $3 million sale of a single-tenant retail property located in Chicago. Wendy’s occupies the 4,031-square-foot building, which was built in 1983 and renovated in 2022, on a net-lease basis. Sean Lutz and Dan Elliot of SRS represented the seller, a California-based private investor, in the transaction. Bruce Lee and Hope Kim of New Star Realty represented the buyer, also a California-based private investor.
Glenview, Ill. — Marcus & Millichap has arranged the sale of a 75,649-square-foot retail center in the Chicago suburb of Glenview for $18.1 million. Anchored by Advocate Medical, the property was 97 percent leased at the time of sale. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local private investor. Adrian Mendoza of Marcus & Millichap secured and represented the buyer, a locally based limited liability company.
Glenview, Ill. — Marcus & Millichap has arranged the $10.2 million sale of Shops at Glen Pointe in Glenview, about 20 miles northwest of Chicago. Tenants at the retail center, which comprises three buildings, include Chipotle Mexican Grill, Starbucks Coffee, Naf Naf Grill and AT&T. The property serves as an outlot to Mariano’s and LA Fitness. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local limited liability company. An Iowa-based investment group was the buyer.
Colliers Arranges $10.5 Million Sale of Eight-Property Retail, Industrial Portfolio in Metro Chicago
Chicago — Colliers has arranged the $10.5 million sale of a portfolio comprising seven retail properties and one industrial building in metro Chicago. The sale represents the first part of a multi-phase transaction that includes 22 retail properties, three land sites and one industrial building. Peter Block and Rachel Patten of Colliers represented the seller, a family office, in the disposition of the properties to Arnold Meyer & Co. Block expects to close on the remaining properties in the portfolio this summer.
Darien, Ill. — Mid-America Real Estate Corp.’s Investment Sales Group has brokered the sale of Darien Shopping Center, a 46,582-square-foot retail center located in the Chicago suburb of Darien. The property was fully leased at the time of sale to tenants including American Freight, Concentra Urgent Care, Chuck E. Cheese and World Star Nails & Spa. Emily Gadomski and Rick Drogosz of Mid-America brokered the sale on behalf of a private seller.
Joliet, Ill. — Cullinan Properties has rebranded Rock Run Crossings in the Chicago suburb of Joliet to RockRun Collection. Construction is underway at the property, which will feature retail, restaurant, entertainment and healthcare space, in addition to multifamily residences. The rebranding also includes changes to the development’s logo, leasing collateral, website and development visuals.
Northbrook, Ill. — Envoy Net Lease Partners has provided a $4.1 million loan for the construction of a single-tenant property located in Ohio. Ralph Cram of Envoy arranged the financing on behalf of the borrower, Caliber Collision.
AlabamaCaliforniaFloridaGeorgiaIllinoisMississippiNet leaseNew YorkNewsNorth CarolinaTexasVirginiaWashington
Matthews Brokers $20.1 Million Sale of Napa Auto Parts Portfolio
Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.