Retail

ALGONQUIN, ILL. — Deerfield, Ill.-based Alliance Equities LLC, in a joint venture with Orange County, Calif.-based Nelson Brothers, has acquired the 83,441-square-foot Algonquin Galleria retail center, which is located at 1515 Randall Rd. in Algonquin. Mid-America Development Partners has sold the property for $22.5 million. The center is anchored by Best Buy and La-Z-Boy, and is shadow-anchored by Dania and Ethan Allen.

DE FOREST, WIS. — Stan Johnson Co. has arranged the sale of a 14,490-square-foot freestanding retail building located at 807 S. Main St. in De Forest. The property, which is 100 percent leased to Walgreens, was acquired by the buyer through a 1031 exchange. Vintage 76 Apartments LLC has acquired the property from Edward Hines Lumber Co. for approximately $3.89 million. Joey Odom on the Hughes Team of Stan Johnson Co. represented the seller; Benjamin Flinders of Investment Real Estate Associates represented the buyer in the transaction.

SUPERIOR, WIS. — Cleveland-based NAI Daus and Brookfield, Wis.-based NAI MLG have brokered the sale of a freestanding building triple net leased to Kmart, which is located at 3015 Tower Ave. in Superior. An undisclosed Boca Raton, Fla.-based buyer has acquired the 87,407-square-foot store from Zeisler Morgan Properties Ltd. The property was sold for approximately $2.24 million. Dan Cooper and Bob Havasi of NAI Daus’ Cooper Commercial Investment Group represented the seller in the transaction.