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Newmark helps sell Deer Park Town Center for $125M

The 352,257-square-foot open-air retail center in Deer Park, Illinois was about 84.6% occupied at the time of sale, with more than 45 retailers and dining options.

Reported · Written up by our desk · Industry

Newmark arranged the $125 million sale of Deer Park Town Center, an open-air lifestyle center in Deer Park, Illinois, according to ConnectCRE.

The property totals 352,257 square feet and was built in 2000, with the center described as approximately 84.6% occupied when the transaction closed.

ConnectCRE said Newmark’s deal team represented the seller, PGIM, including President and Head of Retail Capital Markets Conor Lalor, Senior Managing Directors Kyle Minter and Keely Polczynski, with support from Director James Sharpe V and Associate Director Brian Schneiderman.

ConnectCRE added that the buyer was a joint venture of Brand Street Properties and AEW Capital Management, and that the center features more than 45 retailers and dining options.

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