The deal involved a reunion of sorts, as Des Plaines-based seller S & G Partnership was represented by former Grubb & Ellis retail broker Rick Scardino, now president of Affinity Commercial Real Estate in Schaumburg. Grubb & Ellis vice president Michael Adams represented Raybec Investment Co.
Linden Plaza's tenant roster includes Hallmark, Tru-Value, White Hen, Aqua Pool and Spa Pros, Subway and Countryside Bakery. However, it also has a 32,000-sf vacancy with the former Eagle space, which Raybec may divide into smaller spaces or tear down, according to Adams.
"Raybec saw an opportunity to buy a center with tremendous upside potential," says Adams, who has represented the investment group for 15 years. "They needed to apply money they had coming out of a trade, and this made the most sense."
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