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.
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.
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.
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.
Mount Prospect, Ill. — RPT Realty has sold Mount Prospect Plaza, a 227,690-square-foot shopping center in the Chicago suburb of Mount Prospect. LBX Investments LLC purchased the grocery-anchored asset for an undisclosed price. Tenants include Aldi, Marshalls, Burlington, Ross Dress for Less and LA Fitness. Walmart shadow anchors the property. George Good and Christian Williams led a CBRE team that represented RPT Realty.
Chicago — Marcus & Millichap has negotiated the sale of a 6,000-square-foot retail property net leased to Just Tires in Chicago for $4.2 million. The asset is located at 4809 N. Broadway St. in the Uptown neighborhood. Nicholas Kanich of Marcus & Millichap brokered the transaction between the Chicago-based seller and Delaware-based buyer.
Chicago — Continental Realty Corp. (CRC) has entered the Chicago market with its acquisition of a five-property shopping center portfolio for $93.6 million. The properties total more than 900,000 square feet of gross leasable area and are located in Cicero, Mount Prospect, Naperville and Palatine. Specifically, the properties include Cicero Marketplace in Cicero; Northwest and English Valley shopping centers in Palatine; Golf Plaza II in Mount Prospect; and Fox River Commons in Naperville. DiMucci Cos. was the seller. Tucker Development served as an acquisition and development consultant on the transaction. The portfolio …
Chicago and Memphis Tenn. — Chicago-based JLL has entered into a strategic partnership with Memphis, Tennessee-based Poag Shopping Centers to acquire and redevelop mixed-use assets. Poag will provide development and redevelopment services for JLL-managed centers across the U.S., while JLL will provide management and operational services to Poag’s 10 open-air lifestyle centers. Poag will partner with JLL on its existing pipeline of redevelopment work and intends to grow this platform as more malls and open-air centers are revamped for today’s changing retail environment. Poag will also work with JLL to answer …
East Peoria, Ill. — Cullinan Properties has hired Ann Smith as senior vice president and director of leasing and marketing. In her new role, Smith will direct all aspects of the East Peoria, Illinois-based company’s leasing and marketing, including lease negotiations, portfolio merchandising, tenant relationships, marketing efforts and corporate branding strategy. Prior to joining Cullinan, Smith spent 18 years in various leasing and tenant coordination roles at Retail Properties of America (RPAI) and Kite Property Group. “We’re excited for Ann to join Cullinan Properties as she brings unmatched leasing experience and …
Edwardsville, Glen Carbon and Highland, Ill. — NorthMarq has arranged a $12.5 million loan for the refinancing of a five-property retail portfolio in metro St. Louis. The centers, built between 1998 and 2019, total about 110,000 square feet and are located in Edwardsville, Glen Carbon and Highland. Jeff Chaney of NorthMarq arranged the fixed-rate loan, which features a 20-year term and a 20-year amortization schedule. A life insurance company provided the loan to the borrower, R.L.P. Development Co. Inc.
