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 …
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.
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 …
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.
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.
Chicago — Mid-America Real Estate Corp. has brokered the sale of 1003 N. Rush St., a luxury retail building in Chicago. The property spans 5,443 square feet and was occupied by fashion retailer Vuori at the time of sale. Joe Girardi and Emily Gadomski of Mid-America represented the seller, an institutional investor. A private family was the buyer.
Chicago — L3 Capital has added two new tenants to its mixed-use development in the Fulton Market neighborhood of Chicago. Ever/Body and Brilliant Earth will join the retail lineup, marking six tenant openings since September of last year. L3 completed construction on the 35,000-square-foot project, a redevelopment of a former bank and parking lot which is now fully leased, in January 2022. Other tenants include Mejuri, Brooklinen, Puttery and Lululemon.
Chicago — Ashkenazy Acquisition Corp. (AAC) has purchased Gateway Centre, a 200,000-square-foot shopping center in Chicago. Tenants at the property, which was 93 percent leased at the time of sale, include Jewel-Osco, Marshalls and LA Fitness. George Good of CBRE represented the seller, Stockbridge, in the transaction. AAC was represented in-house.
New York City — A&G Real Estate Partners will auction eight Party City leases in its capacity as real estate advisor to the retailer. These leases — which include locations in Georgia, Iowa, Illinois, Louisiana, Michigan, New York, Texas and West Virginia — come in addition to 12 Party City leases announced for auction by A&G in late February. Ranging in size from 7,500 to 28,000 square feet, 18 total leases remain open. This move is part of Party City Holdco Inc. (PCHI)’s financial restructuring, which is expected to be …
Schaumburg, Ill. — Lee & Associates has negotiated the sale of a 12,500-square-foot property formerly occupied by Frankly Yours restaurant in Schaumburg, approximately 30 miles northwest of Chicago. Rick Scardino and Michael Petrik of Lee & Associates represented the buyer, the Village of Schaumburg. Attorney Steven Dobrofsky represented the seller, Chicago Title Land Trust Co.