 |
| 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:
Post a Comment