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.
Batavia, Ill. — Marcus & Millichap has arranged the $2 million sale of a 2,225-square-foot retail building in Batavia, approximately 40 miles west of Chicago. Constructed in 2022, the build-to-suit property is net-leased to Starbucks Coffee. The building features a drive-thru and outdoor seating. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a Chicagoland limited liability company. The duo also secured and represented the buyer, a Wisconsin-based private investor.
Franklin Park, Ill. —Marcus & Millichap has negotiated the $4.7 million sale of a 42,111-square-foot retail center in the Chicago suburb of Franklin Park. Just Tires anchors the property and has operated out of the location since 1975. Mitchell Kiven, James Ziegler and Keith Zelenika of Marcus & Millichap represented the seller, an investment fund with several partners based primarily in Chicago. Kiven also procured the buyer, Jupiter Texas Group. Dean Giannakopoulos and Frank Montalto of Marcus & Millichap Capital Corp. arranged acquisition financing on behalf of the buyer.
Countryside, Ill. — Mid-America Real Estate’s Investment Sales Group has arranged the sale of Salem Square, a 116,992-square-foot shopping center located in Countryside, approximately 17 miles southwest of downtown Chicago. The property was fully leased and managed by Pine Tree at the time of sale. Tenants at the center include TJ Maxx/HomeGoods, Marshalls, ATI Physical Therapy, Famous Footwear, Mangia Mangia, Great Clips, Card Frenzy and Magic Nails. Rick Drogosz and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the transaction.
Woonsocket, R.I. and Chicago — CVS Health (NYSE: CVS) has agreed to acquire Oak Street Health (NYSE: OSH) in an all-cash transaction at $39 per share, representing a total purchase price of roughly $10.6 billion. The price represents a premium of approximately 11.9 percent over Oak Street’s opening price per share this morning. Chicago-based Oak Street Health is a network of primary care centers for adults on Medicare. The company employs approximately 600 primary care providers and maintains 169 medical centers across 21 states. By 2026, Oak Street Health plans …
Peoria, Ill. — Ken Hinkle has joined Cullinan Properties, taking on the role of vice president of leasing. Based in Atlanta, Hinkle previously held senior positions with Kite Realty, Retail Properties of America, Simon Property Group and Federated Department Store. In his most recent position, Hinkle was responsible for the leasing of up to 4.8 million square feet. “Ken is a dynamic leasing professional who succeeds in every market he is in,” says Ann Smith, senior vice president and director of leasing and marketing. “At Cullinan, he will provide leadership …
