Home›Real Estate›Commercial›Deer Park Town Center sells for $125M in Chicago-area…

Deer Park Town Center sells for $125M in Chicago-area retail deal

The 410,000-square-foot suburban shopping center is about 85% leased, and the buyer plans to rework public gathering spaces to drive traffic.

Reported · Written up by our desk · Commercial

Bisnow reports that a joint venture between Brand Street Properties and AEW Capital Management bought Deer Park Town Center for $125 million.

The shopping center spans about 410,000 square feet and is roughly 85% leased, with tenants including Apple, Crate and Barrel, Gap, and Lululemon, according to the release.

Brand Street Properties, which manages operations and leasing for the property, said it plans to rework public gathering spaces to drive traffic.

The publication also noted the sale as the highest retail deal in the Chicago area in a decade, part of an active run of suburban shopping center transactions, including a separate deal earlier in the month exceeding $95 million.

More like this

Sources