"The overall market, I think, has slowed down a little bit,"says Jeffrey Kowal, senior vice president with Edgemark, saying thebig sales have vanished in the past few months. Increasing interestrates have played a role in the slowdown, he says, as has theincrease in the spread between interest rates and US Treasurybonds. There is "a little bit of a disconnect" as US Treasury bondrates are still low but cap rates have not totally adjusted, hesays. "There is still plenty of volume and activity in the marketbut the volume is not as great as it was a couple of years ago," hesays. "It has decreased the fury in the marketplace."

Ashton Pointe Shopping Center, at the southeast corner of NorthAurora Boulevard and Eola Road in Aurora, was acquired by a privateinvestment group. The 28,854-sf shopping center was constructed in2002 and is next to Jewel/Osco. Ashton Pointe is currently about92% leased. Tenants include Washington Mutual, GNC, Athletico andCaribou Coffee. The seller was a family partnership based in aChicago suburb and the buyer was an investment group based in aChicago suburb, says Kowal, who was the broker for thetransaction.

Mokena Corners and Mokena Pavilions were both acquired by a"private family investment entity" Kowal says. Mokena Corners is a26,400-sf retail center on 3.58 acres at 11212-11244 W. LincolnHighway. Mokena Corners was the first phase of the development andwas constructed in 2005. Mokena Pavilions is an 18,765-sf retailcenter on 4.11 acres at 11312-11336 W. Lincoln Highway. MokenaPavilions was constructed in 2006 as the second phase of thedevelopment. The first phase is fully leased with tenants includingBlockbuster, Subway, Dunkin' Donuts and Great Clips. MokenaPavilions is currently about 90% leased with tenants includingOberweis, FedEx Kinko's and CitiFinancial, Kowal says. The centerswere acquired to fulfill a 1031 exchange. The centers weredeveloped by a developer based in Chicago and Denver, which was theseller of the centers and was represented by Kowal. Tara Mathews,with Prime Equities, and Colleen Kazmarek, with Caton Commercial,represented the buyer, a husband and wife from Chicago.