Retail

NAPERVILLE, ILL. — Quantum Real Estate Advisors Inc. has arranged the sale of an 82,453-square-foot shopping center located in Naperville, a western suburb of Chicago, for $24 million. The property includes four single-tenant restaurants on long-term ground leases including Zapatistas, Maggiano’s Little Italy, White Chocolate Grill and Morton’s Steakhouse. The property also features four multi-tenant buildings leased to tenants including Subway, Einstein’s Brothers Bagels, Scottrade, Jason’s Deli, Athletico and others. An institutional investment firm purchased the property, which was 95 percent leased at the time of sale. A Lemont, Ill.-based development company was the seller. Chad Firsel and Daniel Waszak of Quantum Real Estate Advisors Inc. represented the buyer and the seller in the transaction.

MAYFIELD HEIGHTS, OHIO — Marcus & Millichap has arranged the sale of a 6,760 square-foot net-leased property in Mayfield Heights for $2.9 million. Glen Kunofsky, executive vice president investments, and Russell Wachtler, investment associate at Marcus & Millichap marketed the property on behalf of the seller, a private investor. Michael Glass, also of Marcus & Millichap, assisted in the transaction. 7-Eleven Gas and Convenience leases the property, located at 6680 Mayfield Road.

CORALVILLE, IOWA — Von Maur has opened an80,000-square-foot department store in Iowa River Landing, a 180-acre mixed-use development in Coralville. OliverMcMillan is the master developer of Iowa River Landing, which is situated along the Iowa River. The mixed-use development includes a 286-room flagship Marriott Hotel and Conference Center, a 100-room Homesuites Hotel and the University of Iowa Hospital and Clinics’ new 150,000-square-foot facility. The master-planned development includes 330,000 square feet of retail, office, residential and entertainment offerings. Construction is set to begin later this year on a multi-story residential development, which includes 60 condominiums and 13 townhouses. The residential development is projected to open in spring 2015.

OAKBROOK TERRACE, ILL. — NAI Hiffman has been awarded management and leasing assignments for Tower Station in West Chicago, Railway Plaza in Naperville and Nelson Plaza in New Lenox. The addition of the three properties expands NAI Hiffman’s retail management and leasing portfolio in the Chicago metropolitan area to more than 56.6 million square feet. Tower Station, a 23,184-square-foot strip center located at 956 N. Neltnor Blvd., is shadow-anchored by Aldi grocery store. Railway Plaza, a shopping center located at 572 Western Ridge Court, is anchored by Starbucks. Nelson Plaza, a 32,655-square-foot shopping center located at 402-414 Nelson Road, has three vacant units ranging in size from 1,322 to 6,029 square feet.