Chicago — Mid-America Real Estate Corp. has brokered the sale of North & Clybourn, a 68,121-square-foot retail center in Chicago’s Lincoln Park neighborhood. Crate & Barrel and The Container Store anchor the property. Additional tenants at the center include Potbelly, LensCrafters and Sweetgreen. Joe Girardi and Stan Nitzberg of Mid-America arranged the sale on behalf of the private seller. Hines U.S. Property Partners acquired the property for an undisclosed price.
Homewood, Ill. — Marcus & Millichap has arranged the sale of an 11,772-square-foot retail building located in the Chicago suburb of Homewood. U.S. Bank anchors the property. Austin Weisenbeck, Sean Sharko and Adrian Mendoza of Marcus & Millichap represented the seller, a limited liability company. The trio also secured and represented the all-cash buyer, a limited liability company.
Oak Forest, Ill. — Mid-America Real Estate Corp. has arranged the sale of Oak Forest Commons, a 115,754-square-foot shopping center located in the Chicago suburb of Oak Forest. Rick Drogosz, Ben Wineman and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the transaction. First Tek acquired the center for an undisclosed price. The property was managed by Pine Tree on behalf of the seller.
Peoria, Ill. — Cullinan Properties has appointed Michael Gold as president of the company. Prior to joining Cullinan, Gold most recently served as chief operating officer for shopping center owner and operator Pine Tree. During his tenure at Pine Tree, Gold’s teams oversaw more than 20 million square feet of real estate. “Michael’s comprehensive understanding of the industry and proven track record of success make him an invaluable addition to the Cullinan Properties team,” says Diane Cullinan Oberhelman, chairman of Cullinan Properties. Gold will be based in Cullinan’s Chicago office.
Orland Park, Ill. — Mid-America Real Estate has arranged the sale of Orland Park Place, a 649,668-square-foot retail center located in the Chicago suburb of Orland Park. Tenants at the property include Nordstrom Rack, Dick’s Sporting Goods, Marshalls, Ross Dress for Less, Hobby Lobby, Old Navy, Barnes & Noble, DSW, Ashley Furniture and Steinhafels. The center was 87 percent occupied at the time of sale. PMAT acquired the property for an undisclosed price. Ben Wineman, Rick Drogosz and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the …
Batavia, Ill. — German discount grocer Aldi has announced plans to add 800 new locations across the United States by the end of 2028. The company will invest more than $9 billion into the expansion plan, which will be implemented through a combination of new openings and store conversions. In August, Aldi acquired American grocery brands Winn-Dixie and Harveys Supermarket as part of a larger divestiture of parent company Southeastern Grocers. Aldi’s expansion plans in the Southeast include both new openings and converting some of the former Winn-Dixie and Harveys locations …
Seattle — Seattle-based retailer Nordstrom has announced plan to open 26 new Nordstrom Rack stores. Openings are scheduled to begin this spring and continue through spring 2025. The sites of the new stores include locations in Arizona, California, Florida, Georgia, Illinois, Indiana, Nebraska, New Jersey, New York, North Carolina, Ohio and Texas.
East Moline, Ill. — Marcus & Millichap has brokered the $2.7 million sale of a single-tenant property located in East Moline, a city in northwest Illinois. Caliber Collision occupies the building on a net-lease basis. The property recently underwent $400,000 in renovations, including parking lot resurfacing, new HVAC and new LED lighting. Jake Carter, Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the seller, a private investor, in the transaction.
Springfield, Ill. — Marcus & Millichap has negotiated the $2.4 million sale of a 4,480-square-foot single-tenant property located in Springfield. IHOP occupies the building. The property is situated just north of Capital City Shopping Center, which is occupied by tenants including AMC, Big Lots, Panera Bread and McDonald’s. Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company. Steven Weinstock of Marcus & Millichap assisted in closing the transaction, including a triple-net lease with a franchisee and 10 percent rental increases every five years.
Austin, Texas — Cushman & Wakefield has arranged $100 million in refinancing for a portfolio of grocery-anchored retail centers on behalf of the borrower, Austin-based Epic Real Estate Partners. Totaling 625,000 square feet, the portfolio includes Eagan Towne Center in Eagan, Minnesota; Ventana Village in Tucson, Arizona; Preston Trail Village in Dallas; Kauai Village in Kapa’a, Hawaii; and Cobbler Crossing in Elgin, Illinois. The properties, which were 93.2 percent leased at the time of sale, are anchored by Cub Foods, Kroger, Bashas, Safeway and Jewel Osco. Beth Lambert, Chase Johnson, Caleb …
