Thursday, May 28, 2015

HFF closes $24.5 million sale of grocery-anchored retail center in suburban Chicago



Yorkville Marketplace, U.S. Route 34 and Illinois State Route 47, Yorkville, IL


CHICAGO, IL, May 28, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $24.5 million sale of Yorkville Marketplace, a 111,591-square-foot, grocery-anchored retail center in Yorkville, a western Chicago suburb.   

Amy Sands
HFF worked on behalf of the seller, a partnership between American Realty Advisors and Tucker Development. 

Inland Real Estate Income Trust, Inc. purchased the asset. 

Yorkville Marketplace is anchored by Jewel-Osco, which is Chicago’s No. 1 grocer by market share.  

The property is 92.5 percent leased to a strong mix of national and local necessity retailers, including Panera Bread, Office Max, Starbucks and AT&T. 

The center is situated on 17.95 acres at the intersection of U.S. Route 34 and Illinois State Route 47. 

This location is the connection point for the residents of Kendall, Kane, DuPage and Will Counties and has an average traffic count exceeding 39,000 vehicles daily.

The property is surrounded by a rapidly growing and affluent trade area with average household incomes of $92,000 within a three-mile radius.


Daniel Kaufman










The HFF investment sales team representing the seller was led by directors Amy Sands and Clinton Mitchell and managing director Daniel Kaufman.

“Over the past few years, there have been very few Jewel-anchored grocery centers on the market in Chicago,” Sands said. 

“Yorkville Marketplace was an excellent opportunity for investors to acquire a well-located property with a market dominant grocery operator.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com




No comments: