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IllinoisInvestment salesNews

Mid-America Arranges Sale of 108,412-Square-Foot Iroquois Center in Metro Chicago

by Hayden Spiess

Naperville, Ill. — Mid-America Real Estate Corp. has arranged the sale of Iroquois Center, a 108,412-square-foot shopping center in Naperville, roughly 30 miles outside Chicago. Northpond Partners acquired the property for an undisclosed price. Tenants at the center include Planet Fitness, Duly Health and Care, Illiana Financial Credit Union and Cookies by Design. Joe Girardi, Rick Drogosz and Ben Wineman of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the transaction. Pine Tree managed the property at the time of sale. 

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Pine Tree Acquires 2.5 Million-Square-Foot Retail Portfolio from SITE Centers for $495 Million

by Hayden Spiess

Northbrook, Ill. — Pine Tree, in partnership with a state pension fund, has purchased six open-air shopping centers from SITE Centers Corp. (NYSE: SITC) for $495 million.  The portfolio comprises 2.5 million square feet and feature properties in metros including Fort Lauderdale, Florida; Columbus, Ohio; Cincinnati; Phoenix; and Portland, Oregon. The properties included in the portfolio are: The portfolio’s retail anchors include Kroger, New Seasons Market, The Fresh Market, Target, Ulta Beauty, Nordstrom Rack, Dick’s Sporting Goods and 13 stores leased by TJX Cos. Pine Tree is a retail developer and …

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Petes
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Core Acquisitions Purchases Rice Lake Square Shopping Center in Suburban Chicago for $34.2 Million

by Hayden Spiess

Wheaton, Ill. — Core Acquisitions has purchased Rice Lake Square, a 251,584-square-foot shopping center located in the Chicago suburb of Wheaton, for $34.2 million. Developed in 1989 and renovated in 2011 and 2019, the property is anchored by Pete’s Fresh Market, Studio Movie Grill and PetSmart. Additional tenants at the center, which was 76 percent leased at the time of sale, include Massage Envy, Orangetheory Fitness, Potbelly Sandwich Shop, Men’s Wearhouse, Xfinity and Taco Bell. Rick Drogosz of Mid-America Real Estate Corp. represented the undisclosed seller in the transaction. Old National …

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IllinoisLeasingNews

Cushman & Wakefield Arranges Three SweatHouz Leases in Chicago

by Hayden Spiess

Chicago — Cushman & Wakefield has arranged three leases in Chicago on behalf of SweatHouz, a sauna and cold-plunge wellness concept. SweatHouz will occupy spaces ranging from 2,000 to 7,000 square feet in the Old Town, West Loop and Lakeview East neighborhoods. Anthony Ciaravino of Cushman & Wakefield represented the tenant in the lease negotiations. 

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Wayfair Wilmette Store
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Wayfair Opens 150,000-Square-Foot Store in Chicago Suburb

by Hayden Spiess

Wilmette, Ill. — Wayfair has opened a 150,000-square-foot store at Edens Plaza in the Chicago suburb of Wilmette. Situated within a space formerly occupied by the Carson Pirie Scott department store, this marks the first brick-and-mortar store for the digitally native home-merchandise brand. In addition to furniture, home décor, housewares, appliances and home improvement products, the store features a restaurant, dubbed The Porch. JT Magen served as the construction manager for the property renovation, which included an exterior expansion of 110,000 square feet to include a plaza, new parking lot, landscaping …

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IllinoisLeasingNews

Seven Tenants Sign Leases at Fox Valley Mall in Metro Chicago

by Hayden Spiess

Aurora, Ill. — Seven new tenants have signed leases at Fox Valley Mall, a three-story shopping center located in Aurora, roughly 40 miles outside Chicago. UTime Gamers and FunBox are now open at the property, in spaces comprising 1,843 square feet and 25,000 square feet, respectively. Molly’s Cupcakes, DDC Wraps, New Beautee, hotRAGS and Showroom have also signed leases at the center. The concepts will occupy 852; 1,172; 1,686; 2,125; and 2,140 square feet, respectively. Centennial is the landlord. 

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Townes Crossing
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FNRP Acquires 105,731-Square-Foot Retail Center in Illinois

by Hayden Spiess

Oswego, Ill. — First National Realty Partners has acquired Townes Crossing, a 105,731-square-foot retail center located in Oswego, roughly 50 miles outside Chicago. A 65,000-square-foot Jewel-Osco store anchors the property. Other tenants at the center include Phenix Salon Suites, Oswego Dental, The UPS Store and Subway. Evan Halkias of Cushman & Wakefield represented the undisclosed seller in the transaction. 

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Geneva Commons
IllinoisInvestment salesNews

Lamar Cos. Acquires 440,370-Square-Foot Geneva Commons Shopping Center in Chicago Suburb

by Hayden Spiess

Geneva, Ill. — Lamar Cos., in partnership with Real Capital Solutions, has acquired Geneva Commons, a 440,370-square-foot shopping center in the Chicago suburb of Geneva. Dick’s Sporting Goods and Barnes & Noble anchor the property. Other tenants at the center include Sephora, Athleta, Lovesac, Williams Sonoma, Pottery Barn, Bath & Body Works, J. Crew Factory and First Watch. Lamar plans to implement capital improvements to the property.

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IllinoisInvestment salesNews

PMAT Acquires 82,660-Square-Foot Retail Center in Chicago Suburb

by Hayden Spiess

Romeoville, Ill. — PMAT Cos. has acquired The Shops of Romeoville, an 82,660-square-foot retail center located in the Chicago suburb of Romeoville. Tenants at the property, which was 65 percent occupied at the time of sale, include T.J.Maxx, Petco and Discovery Clothing. Since purchasing the center in December 2023, PMAT has renewed existing anchor tenancy and executed a new long-term lease with Ross Dress for Less. 

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Segovia Partners, Braden Real Estate to Merge

by Hayden Spiess

Chicago — Retail brokerage firms Segovia Partners and Braden Real Estate have announced plans to merge. Marc Offit heads Braden Real Estate, which features offices in Chicago and Florida. Jennifer Frank and Jack Breard lead Dallas-based Segovia Partners. Offit will remain managing broker for the Illinois and Florida brokerage teams, with Courtney Waldon appointed president of the Chicago office. Segovia plans to add a senior team member to run the West Coast of Florida office. Additionally, Tim Gearhart will join the Segovia Partners Chicago office as a principal, focusing on national …

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