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ARLINGTON HEIGHTS, IL-The Ridge Plaza, a shopping center at thenorthwest corner of Dundee Road and Ridge Avenue, has been sold toNew Plan/Galileo, a joint venture between Galileo Shopping AmericaTrust, based in Australia, and New Plan Excel Realty Trust, in NewYork City. The sale price was nearly $25 million, a sourcesaid.
The shopping center is 256,310 sf, and the sale included151,643-sf of the center. The portion of the center occupied andowned by Kohl's was excluded from the sale. Principal Rick Drogoszand Associate Joe Girardi, both with Mid-America Real EstateCorporation's Investment Sales Group, handled the sale to NewPlan/Galileo on behalf of the seller.
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