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Aldi Plans 800-Store Expansion Across the U.S. by 2028

by Hayden Spiess

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 …

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Nordstrom to Open 26 New Nordstrom Rack Stores

by Hayden Spiess

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.

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IllinoisInvestment salesNet leaseNews

Marcus & Millichap Brokers $2.7 Million Sale of Single-Tenant Property in East Moline, Illinois

by Hayden Spiess

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. 

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IllinoisInvestment salesNet leaseNewsRestaurants

Marcus & Millichap Negotiates $2.4 Million Sale of IHOP-Occupied Property in Illinois 

by Hayden Spiess

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.

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Cushman & Wakefield Arranges $100 Million Refinancing for Grocery-Anchored Retail Center Portfolio

by Hayden Spiess

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 …

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IllinoisLeasingNews

Aldi Opens 22,951-Square-Foot Store at Roosevelt Plaza in Chicago Suburb

by Hayden Spiess

Lombard, Ill. — Aldi has opened a 22,951-square-foot store at Roosevelt Plaza, a shopping center located in the Chicago suburb of Lombard. An affiliate of Next Realty LLC owns and manages the property. Aldi now occupies a space that was formerly home to X-Sport Fitness. Other tenants at the center include Hobby Lobby, Harbor Freight Tools, Fruitful Yield, Roadhouse 38 and Starbucks Coffee. The tenant build-out involved installing freezer and cooler spaces and removing the locker room facilities used by the previous tenant.

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Mid-America Arranges Sale of 104,240-Square-Foot Lawndale Plaza Shopping Center in Chicago

by Hayden Spiess

Chicago — Mid-America Real Estate Corp. has arranged the sale of Lawndale Plaza, a 104,240-square-foot shopping center in Chicago’s Lawndale neighborhood. Anchored by Freshway Market, the property is leased to tenants including Citi Trends, Taco Bell, PNC, Rainbow, Cosmo Superstore and O’Reilly Auto Parts. Rick Drogosz and Emily Gadomski of Mid-America represented the seller, Mercer Street Holdings Three. Acre Investment Co. LLC was the buyer.

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IllinoisLeasingNews

Five Tenants Sign Leases at Deer Park Town Center in Illinois

by Hayden Spiess

Deer Park, Ill. — Five new tenants have joined the tenant roster at Deer Park Town Center, a shopping center located in Deer Park, roughly 40 miles outside Chicago. Victoria’s Secret has opened a 4,965-square-foot store at the property, and Clean Juice, The Shade Store and Aerie are scheduled to open this spring, occupying 1,371; 1,550 and 4,500 square feet, respectively. Ancho & Agave will also open an 8,750-square-foot restaurant at the center this fall. JLL manages the property.

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Marcus & Millichap Negotiates $2.5 Million Sale of Two Retail Centers in Normal, Illinois

by Hayden Spiess

Normal, Ill. — Marcus & Millichap has negotiated the $2.5 million sale of two retail centers located in the college town of Normal. The adjacent properties are located near Illinois State University. Totaling approximately 17,500 square feet, the centers are primarily leased to local tenants including a marijuana dispensary, coffee shop, pizza parlor, regional medical provider and laundromat. Eric Bell, Jordan Callaway and Mitchell Kiven of Marcus & Millichap represented the seller, a real estate developer. 

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Core Acquisitions, T2 Capital Management Sell Two-Tenant Retail Center in Metro Chicago

by Hayden Spiess

Oak Lawn, Ill. — A joint venture between Core Acquisitions and T2 Capital Management has sold a fully leased two-tenant retail center located in the Chicago suburb of Oak Lawn. Chicago Title and Hassleless Mattress occupy the center. A California-based buyer acquired the property, which recently underwent a full renovation, for $2.1 million. Chad Firsel and Brett Berlin of Quantum Real Estate Advisors represented the seller in the transaction. 

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