Property Type

HUNTLEY AND HAZEL CREST, ILL. — CBRE has brokered the $14.8 million sale of two retail properties located in the suburbs of Chicago. In the first deal, Interstate Partners sold a 43,361-square-foot shopping center known as Regency Square to Hamilton Partners for $10.8 million. The center was 97 percent leased at the time of sale and is located at 12200-12300 Princeton Drive in Huntley. Aldi anchors the shopping center, and other tenants include Athletico, Jimmy John’s, Little Caesar’s and SportClips. In the second transaction, Baceline Investments acquired The Commons of Hazel Crest for $4 million from an undisclosed seller. The 51,222-square-foot strip center is located at 18220-18244 Kedzie Ave. in Hazel Crest. Dollar Tree anchors the retail property, which was 76 percent occupied at the time of sale. Other tenants at The Commons of Hazel Crest include CSL Plasma, Allstate Insurance and H&R Block. Derrick Almassy and Rich Frolik of CBRE represented the seller in both transactions.

WASHINGTON, ILL. — The Boulder Group has arranged the $1.3 million sale of a building net leased to PNC Bank. The facility, located at 1996 Freedom Parkway in Washington just east of Peoria, is an outparcel to a Walmart Supercenter. The seller was a West Coast-based private investor, and the buyer was a Midwest-based 1031 exchange investor. PNC Bank’s lease expires in December 2028 and features 14 percent rental escalations every five years.