Contemporary Farms Worldwide Market anchors this Niles, In poor health. retail heart. Picture courtesy of Mid-America Actual Property Corp.
Nassimi Realty has bought 4 Flaggs, a 326,084-square-foot retail heart in Niles, In poor health. DRA Advisors bought the property for $20.5 million, in line with public data.
Mid-America Actual Property Corp. brokered the transaction, with Principals Ben Wineman and Rick Drogosz engaged on behalf of the vendor.
Anchored by Contemporary Farms Worldwide Market, the property is dwelling to native and nationwide tenants reminiscent of Marshalls, PetSmart, Previous Navy, JoAnn, Wendy’s, AutoZone, McAlister’s Deli, Starbucks, CosmoProf, 5 Beneath, Tang Korean Restaurant and Ashley Furnishings. On the time of the sale, 4 Flaggs was 75 p.c leased and managed by Pine Tree.
Accomplished in 1973, the grocery-anchored procuring heart includes 4 one-story buildings unfold on a 22.5-acre web site at 8305 W. Golf Street, inside Chicago’s North Shore. Having main avenue publicity, 4 Flaggs is near North Milwaukee Avenue and Route 14, which give entry throughout the Chicago metropolitan space.
DRA Advisors has just lately bought one other Chicagoland property, a 226,029-square-foot shopping center in Geneva, In poor health., with the help of Mid-America Actual Property Corp.’s Funding Gross sales Group. The agency had acquired the asset in 1999 for $24.2 million.
