Retail, Office and Office/Warehouse multi-tenant transactions include a broad mix of single-story, suburban retail strip and campus style office properties to stand-alone and mid-rise urban buildings, with a focus on retail redevelopment properties.
Acquisition & Renovation 32,000 Sq Ft Retail Shopping Center, Glendale Hts, IL
Acquisition: $1,400,000 • Disposition: $4,400,000
HCA, in joint-venture with a development partnership, acquired Hilltop Shopping Center, a 32,000 square foot, multi-tenant retail center for renovation and re-tenanting. The property was acquired using bank construction financing and underwent a complete replacement and upgrade to the façade, parking field, signage and reconfiguration of the tenant spaces. New tenants included 12,300 SF leased to a national medical tenant on a 12-year lease term, relocation of a dental practice to a new 10 year lease, and renewal/extension of 5,600 SF to a 30-unit franchisee for Plato’s Closet. The property was sold to a Chicago based private investment partnership. Overall Investor returns exceeded 30% IRR and 2X Multiplier.