A 62,303-sf Dominick's grocery store anchors the center, which also includes a 10,000-sf Elston Ace Hardware store. The tenant roster further includes Ashley Stewart, Rainbow Apparel, Bank One, Radio Shack, Footlocker, Rent-A-Center, New China Express and Seashell Fish & Chicken.
Jeffrey Plaza Investors LLC assumes a $13.3-million debt from Los Angeles-based Charleston South Side LLC. The seller borrowed $13.8 million from Lehman Brothers in 2003. The note is now held by LaSalle Bank.
Mid-America Real Estate Corp. partner Rick Drogosz and vice president Ben Wineman represented Charleston South Side LLC. Mid-America Asset Management Co., which has handled leasing at the 100% occupied center for five years, is being kept on by Jeffrey Plaza Investors.
In an unrelated deal, Orland Park Plaza, a 59,875-sf center at 15601 S. 94th Ave. in that southwest suburb, sold at a 7.4% capitalization rate at $6.6 million. A Marcus & Millichap Real Estate Investment Brokerage Co. team of Paul Takacs, Mark Luttner and Tony Sekulovski represented the seller.
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