All six centers are anchored by a Dominick's grocery store andfit Jacksonville-based Regency Centers' profile of well-leasedassets with minimal vacancies. They also share strong demographics,notes Daniel J. Fox, senior vice president of Midwest investments.The three-mile trade areas around the centers have averagehousehold incomes ranging from $70,000 to $96,000.

While Fox declines to disclose the sales price and initialcapitalization rate, his company's two most recent acquisitionswere at $175 per sf, and a 7.79% cap rate. If Great LakesPrincipals got $175 per sf, the deal would be worth $154million.

The largest piece of the portfolio is the 335,968-sf Deer GroveCentre in Palatine, where Michaels, Dress Barn, Linen's 'n Things,Target, Petco, Great Clips, Radio Shack, Famous Footwear andHollywood Video also have space. In Glen Ellyn, Hallmark, Bath& Body Works, Cost Cutters and Hollywood Video are in thetenant mix at newly acquired Baker Hill Center, where Dominick'shas more than half of the 135,273 sf.