Retail Midwest

Mid-America negotiates $29.3M shopping center sale

Mid-America Real Estate Corporation’s Investment Sales Group has announced the sale of Bannockburn Green in Bannockburn, Ill., a North Shore suburb of Chicago. The property was purchased for $29.3 million by a joint venture between Dallas based PO’B Montgomery & New York City’s AREA Property Partners’ Value Enhancement Fund VII.

Mid-America Real Estate Corporation’s Investment Sales Group has announced the sale of Bannockburn Green in Bannockburn, Ill., a North Shore suburb of Chicago. The property was purchased for $29.3 million by a joint venture between Dallas-based PO’B Montgomery & New York City’s AREA Property Partners’ Value Enhancement Fund VII.

Rick Drogosz, Ben Wineman and Stan Nitzberg of Mid-America exclusively represented the seller, an institutional investor, in the transaction. The buyer was self-represented.

Bannockburn Green is a 180,851 square-foot grocery-anchored community shopping center situated on 18.5 acres of land on the southeast corner of Waukegan and Half-Day Roads in Bannockburn. Anchors include Dominick’s Finer Foods (Safeway), Walgreens and Erehwon Mountain Outfitter, with other tenants including GNC, Allstate Insurance, Subway, H&R Block, Sylvan Learning Center, PNC Bank and Panera Bread.