99,448-square-foot McHenry Commons 91 percent leased at sale
CHICAGO – May 2, 2016 – CBRE recently completed the sale of a 99,448-square-foot neighborhood center at 2000 N. Richmond Road in McHenry, Ill for $5.45 M.
The property, known as McHenry Commons, was purchased by First Midwest Group, from Regency Centers Corporation and its co-investment partner, Global Retail Investors, LLC - a partnership between CalPERS and First Washington Realty.
CBRE’s Derrick Almassy, first vice president, and Richard Frolik, executive vice president, represented ownership in the transaction.
Anchored by Hobby Lobby, the retail center is 91 percent occupied, with other tenants including Goodwill, OneMain Financial and Rent-A-Center.
”Strip retail is performing very well in the Chicago suburbs right now,” said Almassy. “Investors have seen the strength in this market and transactions are taking place at a very robust pace.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
