RAMCO-GERSHENSON BUYS SHOPPING CENTER FOR $20M

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PALATINE, ILL. — Ramco-Gershenson Properties Trust has purchased Deer Grove Shopping Centre, a 236,173-square-foot property in Palatine, for $20 million. Developed in 1996, the retail center is anchored by Dominick’s, a Chicago-based grocer, and TJ Maxx/Home Goods, Petco and Staples. Target and Home Depot shadow-anchor the shopping center. The property is located at 605 E. Dundee Road, about 30 miles northwest of Chicago, and was 81 percent leased at the time of sale. Janice Sellis and Paul Barile of Transwestern’s Chicago office, along with C-III Realty Services, represented the seller, C-III Asset Management, in the transaction.

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