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IllinoisInvestment salesNews

Colliers Arranges $10.5 Million Sale of Eight-Property Retail, Industrial Portfolio in Metro Chicago

by Hayden Spiess

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.

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IllinoisInvestment salesNews

Mid-America Brokers Sale of 46,582-Square-Foot Shopping Center in Metro Chicago

by Hayden Spiess

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.

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DevelopmentIllinoisNews

Cullinan Properties Rebrands Rock Run Crossings in Metro Chicago

by Hayden Spiess

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.

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Matthews Brokers $20.1 Million Sale of Napa Auto Parts Portfolio

by Hayden Spiess

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.

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Company newsIllinoisNews

Walmart to Close Four Stores in Chicago

by Hayden Spiess

Chicago — Walmart has announced that it will close four stores in Chicago. The company cited a lack of profitability as the reason for the closures, reporting that the locations collectively lose tens of millions of dollars a year. Walmart recently invested $70 million to upgrade the stores and built two new Walmart Health facilities and a Walmart Academy training center. “It was hoped that these investments would help improve our stores’ performance,” said the company. “Unfortunately, these efforts have not materially improved the fundamental business challenges our stores are …

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IllinoisInvestment salesNews

RCG Acquires 175,369-Square-Foot Retail Center in Bradley, Illinois

by Hayden Spiess

Bradley, Ill. — RCG Ventures has acquired Bradley Commons, a 175,369-square-foot retail center located in Bradley. Dick’s Sporting Goods, JOANN Fabric and Crafts, Petco, Shoe Carnival and Ulta Beauty anchor the property. Joe Girardi and Rick Drogosz of Mid-America represented the undisclosed seller. Jeff Miller of RCG represented the company on an in-house basis.

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Hanley Brokers Sales of Three Walgreens-Occupied Properties Totaling $22.6 Million

by Hayden Spiess

Corona Del Mar, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sales of three single-tenant properties totaling $22.6 million. Each of the properties is leased to Walgreens. Kevin Fryman and Ed Hanley of Hanley, in association with ParaSell Inc., arranged the sale of the first property, located in Minneapolis, on behalf of the seller, a California-based private investor. A New York-based private investor purchased the 14,535-square-foot building for $6.6 million. Located in Sugar Grove, Illinois, the second property comprises 14,739 square feet. Bill Asher, Jeff Lefko and …

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IllinoisInvestment salesNet leaseNews

Hanley Brokers $3.7 Million Sale of Single-Tenant Retail Property in Metro Chicago

by Hayden Spiess

Grayslake, Ill. — Hanley Investment Group Real Estate Advisors has brokered the $3.7 million sale of a single-tenant retail property located in Grayslake, roughly 50 miles northwest of Chicago. Kiddie Academy occupies the newly constructed, 9,492-square-foot building on a net-lease basis. Jeff Lefko and Bill Asher of Hanley represented the developer and seller, The Woodmont Co., in association with ParaSell Inc. Gordon Nielsen of Summit Commercial Real Estate represented the buyer, a Virginia-based private investor.

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IllinoisInvestment salesNews

Colliers Arranges $9.2 Million Sale of Shopping Center in Suburban Milwaukee

by Hayden Spiess

Brookfield, Wis. — Colliers has arranged the $9.2 million sale of the Shoppes at Brookfield Commons in the Milwaukee suburb of Brookfield. The 42,356-square-foot shopping center was 60 percent occupied at the time of sale by tenants including Chipotle Mexican Grill, H&R Block and LasikPlus. Adam Connor led a Colliers team that represented the seller and procured the buyer, a private Illinois-based real estate company.

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