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| Amy Sands |
CHICAGO, IL, Dec. 2, 2021 – JLL Capital Markets announced today that it has closed the $30.2 million sale of Market Plaza, a 166,572-square-foot retail center anchored by Jewel-Osco in the Chicago-area suburb of Glen Ellyn, Illinois.
JLL advised the seller, RPT Realty. North
American Real Estate Group acquired the asset.
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| Market Plaza shopping center, Glen Ellyn, IL |
The JLL Retail Capital Markets team
representing the seller was led by Managing Directors Amy Sands and Clinton
Mitchell and Director Michael Nieder.
“Investor appetite for value-add
opportunities continues to increase as the market recovers from COVID with
well-located centers continuing to see enhanced leasing velocity and tenant
demand,” Sands said
Renovated in 2009, Market Plaza was completed in
1965 and has been a staple of the community for decades, with Jewel-Osco
serving as its primary tenant for more than 25 years.
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| Clinton Mitchell |
A
diverse mix of retailers, including Ross Dress for Less, Dollar Tree, Staples,
Sherwin-Williams, Sweet Basil, H&R Block, Royal Nail and Spa, Goldfish Swim
School and more, round out the tenancy.
Market Plaza is situated on 12.45 acres at
525-613 Roosevelt Rd. at the high-traffic, signalized intersection of Park
Boulevard and Roosevelt Road, which exposes the property to approximately
45,000 vehicles per day.
Located
24 miles west of downtown Chicago, Glen Ellyn’s strong and affluent
demographics include 106,00 residents earning an average annual household
income of $131,500 living within a three-mile radius of the center.
For more news, videos and research
resources on JLL, please visit our newsroom.
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| Michael Nieder |
About RPT Realty
RPT Realty owns
and operates a national portfolio of open-air shopping destinations principally
located in top U.S. markets.
The
company's locally curated consumer experiences reflect the lifestyles of its
diverse neighborhoods and match the modern expectations of its retail partners.
CONTACT:
Kimberly
Steele
JLL
Manager
Public Relations
Phone: +1
713 852 3420
Email: Kimberly.Steele@am.jll.com
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