X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

GLENVIEW, IL-ER James & Co., based here, has sold the Shops of Heatherfield to a private Chicago real estate company. The 89,273-sf shopping center is located at the southwest corner of Waukegan Road and Westleigh Drive. The sales price was $22.5 million. A cap rate was not disclosed.

Principal Mike George and investment associate Joe Girardi, with Mid-America Real Estate Corporation’s investment sales group, represented the seller. Representatives from Mid-America declined to be interviewed.

The shopping center is anchored by Jewel/Osco. Other tenants include Panera Bread, Papa Murphy’s and The UPS Store. The development “is a desirable Class A grocery-anchored center,” Girardi said in a released statement.

The shopping center was developed in 1998 next to The Glen, a mixed-use development on the site of the former Glenview Naval Air Station. The Naval Air Station was closed in 1993, in the third of four rounds of base closings, and the 1,121-acre site was redeveloped into a $400 million mixed-use project.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.