CBRE completes two retail sales in suburban Chicago for $14.8 million

Chicago -- CBRE recently completed the sale of two retail centers in the Chicago, Illinois suburbs for $14.8 million.



Regency Square, a 43,361 sq. ft. center, located in Huntley, Illinois is 97% leased. The center is anchored by Aldi and includes tenants Athletico, Jimmy John’s, Little Caesar’s and SportClips. CBRE represented the seller, Interstate Partners. Regency Square sold for $10.8 million. CBRE’s Derrick Almassy and Rich Frolik represented Interstate Partners in the sale to Hamilton Partners.



In the second transaction, CBRE’s Frolik and Almassy represented the owner in the sale of The Commons of Hazel Crest, a 51,222 sq. ft. strip center located in Hazel Crest, Illinois. The property sold for $4 million to Baceline Investments.



“There is a strong appetite for well-located and well-leased retail centers in the suburbs right now,” said Derrick Almassy for CBRE. “Both properties drew significant interest. With long-term anchors in place, these retail centers were high quality investment opportunities.”