Other tenants include Panera Bread, Bath & Body Works,Citibank, RadioShack, and GNC, as well as LaSalle Bank, McDonald's,and Pizza Hut in freestanding locations and outlots of the center.Mid-America Real Estate Corp. principal Rick Drogosz representedthe seller and buyer in the deal. Drogosz says the buyer does notplan to make any significant changes to the center.
This purchase represents Westwood Financial's first foray intoChicago area real estate, Drogosz tells GlobeSt.com. "It's a goodcore holding, and a good location," Drogosz says. The company ownsaround 100 assets in other areas across the US, according toDrogosz.The center, which was developed in the late 1980s, is inthe village's downtown district. The center has a 98% occupancyrate, with lease rates averaging in the mid-$20s, Drogosz says.
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