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Puttshack Raises $150 Million in Growth Capital, Unveils Expansion Plans

by Hayden Spiess

Chicago — Chicago-based Puttshack, an indoor mini golf venue, has completed a growth capital round of $150 million from funds managed by BlackRock and continued support from Promethean Investments. The new funding will support Puttshack’s rapid growth strategy across the United States. New venues in Boston and Miami are scheduled to open this fall, followed by one in St. Louis this winter. Additional locations in Dallas, Denver, Houston, Nashville, Philadelphia, Pittsburgh and Scottsdale, plus a second location in Atlanta, are all slated to open in 2023. Additional U.S. locations will …

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Rock_Run_Crossings
DevelopmentIllinoisNews

PENN Entertainment to Build $185 Million Casino at Rock Run Crossings in Metro Chicago

by Hayden Spiess

Joliet, Ill. — PENN Entertainment has unveiled plans to build Hollywood Casino Joliet at the Rock Run Crossings development in Joliet, roughly 35 miles southwest of Chicago. Construction is expected to begin in late 2023, subject to local regulatory approval. The project has an estimated budget of $185 million and will combine gaming, dining and 10,000 square feet of meeting and event space. The land-based casino will replace PENN’s riverboat casino in Joliet. Cullinan Properties owns Rock Run Crossings, which spans 310 acres and 1 million square feet.

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IllinoisInvestment salesNewsRestaurants

Marcus & Millichap Brokers $1.9 Million Sale of Chili’s Ground Lease in Suburban Chicago

by Hayden Spiess

Plainfield, Ill. — Marcus & Millichap has brokered the $1.9 million sale of a Chili’s ground lease in Plainfield, about 40 miles southwest of Chicago. The restaurant building spans 6,150 square feet. The property at 12740 Illinois Route 59 is situated near Target, Ross Dress for Less and Five Below stores. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, an individual trust. The duo also secured and represented the buyer, a Chicagoland private investor and limited liability company.

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Shops of Beverly
IllinoisInvestment salesNews

Mid-America Brokers Sale of 21,571-Square-Foot Shopping Center in Chicago’s Beverly Neighborhood

by Hayden Spiess

Chicago — Rick Drogosz and Emily Gadomski of Mid-America Real Estate have brokered the sale of Shops of Beverly, a 21,571-square-foot shopping center in the Chicago neighborhood of Beverly. Located within the subregional trade area of Evergreen Park, the center was fully leased at the time of sale. Tenants include Chipotle Mexican Grill, Chase Bank and For Eyes. A private buyer purchased the property from Sperry Equities, which was represented by Mid-America.

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IllinoisInvestment salesNews

NAI Miami Arranges $4 Million Sale of Former Midas Total Car Care Center in Chicago

by Hayden Spiess

Chicago — NAI Miami has arranged the sale of a former Midas Total Car Care center located at 158 W. Grand Ave. in Chicago for $4 million. Jeremy Larkin and Joseph Gallaher of NAI Miami, along with Elan Rasansky and Al Rodenbostel of ARC Real Estate Group, represented the seller, TBC Corp. The buyer, Friedman Properties Ltd., developed the adjacent Moxy Hotel. The sales price equates to roughly $470 per square foot.

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IllinoisLeasingNews

Bridalwear Brand Rosa Clará Signs 2,200-Square-Foot Lease in Chicago

by Hayden Spiess

Chicago — Luxury Spanish bridalwear brand Rosa Clará has signed a 2,200-square-foot retail lease at 670 N. Wabash Ave. in Chicago near the Magnificent Mile. The store is scheduled to open later this fall. Jordan Karp of Savills represented the tenant. In Spain, Rosa Clará is expanding its footprint in Valencia and Cordoba.    

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Carsons-Lombard-Illinois
IllinoisInvestment salesNews

Edgemark Brokers Sale of 217,887-Square-Foot Department Store Building at Yorktown Center

by Hayden Spiess

Lombard, Ill. — Edgemark Commercial Real Estate Services LLC has brokered the sale of a 217,887-square-foot retail building in Lombard, a western suburb of Chicago. Formerly occupied by department store Carson Pirie Scott, the three-story property is part of Yorktown Center. Mike Wesley and Joanne Sutryk of Edgemark represented the seller, an entity doing business as GMAC 2004-C1 Yorktown Mall LLC. Synergy Construction Group LLC was the buyer.

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KFC-Taco-Bell-Naperville-IL
IllinoisInvestment salesNet leaseNews

Boulder Group Brokers $2 Million Sale of Net Leased Restaurant Property in Suburban Chicago

by Hayden Spiess

Naperville, Ill. — The Boulder Group has brokered the $2 million sale of a restaurant property net leased to KFC and Taco Bell in the Chicago suburb of Naperville. The 2,982-square-foot building is located along Reflection Drive. Randy Blankstein and Jimmy Goodman of Boulder represented the buyer, a Midwest-based real estate investor completing a 1031 exchange. A Southeast-based real estate company was the seller.

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Lauren-Holden-Jessica-Zaski
Company newsIllinoisNews

Two New Senior Real Estate Executives Join ShopCore

by Hayden Spiess

Chicago — ShopCore Properties, an affiliate of Blackstone, has named Lauren Holden as executive vice president and chief operating officer and Jessica Zaski as executive vice president and chief transactions officer. Holden joins the company from Clarion Partners, where she was head of asset management. Zaski previously served as senior vice president and co-head of acquisitions for Acadia Realty Trust. Additionally, the company will be taking on the management of 52 shopping centers for Blackstone. These grocery-anchored centers were recently acquired by Blackstone Real Estate Income Trust.

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IllinoisInvestment salesNews

SRS Brokers $2.1 Million Sale of Dollar General-Occupied Property in Suburban Chicago

by Katie Sloan

Diamond, Ill. — SRS Real Estate Partners has brokered the $2.1 million sale of a 12,324-square-foot retail property occupied by Dollar General in Diamond, about 60 miles southwest of Chicago. Constructed in 2000, the building is located at 1185 E. Division St. Steven Roberts, Michael Carter and Frank Rogers of SRS represented the seller, an Illinois-based private investor. A California-based REIT was the buyer.

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