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DEBARTOLO BUYS CHICAGOLAND RETAIL CENTER

Posted on by in Midwest, Retail

HOFFMAN ESTATES, ILL. — DeBartolo Development has entered the Chicagoland market with its acquisition of Prairie Stone Crossing, a 61,000-square-foot shopping center located in Hoffman Estates. The property is situated at the intersection of New Sutton Road and Hoffman Boulevard, adjacent to Prairie Stone Business Park. The center comprises a 42,000-square-foot Sports Authority; a 12,000-square-foot, multi-tenant building; and a 6,000-square-foot retail/restaurant building. Occupancy was 80 percent at the time of the closing. The purchase was made on behalf of DeBartolo Opportunity Fund I at a 49 percent discount to the property's outstanding loan balance. The seller's name was not released.

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