CRE Midwest

ALDI leases former Best Buy in Addison

CBRE announced the lease of a 28,048-square-foot space previously occupied by Best Buy at 1038 N. Rohlwing Road in Addison to Aldi.

CBRE announced the lease of a 28,048-square-foot space previously occupied by Best Buy at 1038 N. Rohlwing Road in Addison to Aldi.

The property is located at the I-355 and West Lake Street interchange and is a free-standing building but is part of a larger complex anchored by Wal-Mart and Sam’s Club.

CBRE successfully leased its client’s property while other spaces vacated by Best Buy in early 2012 remain vacant. Joe Parrott, senior vice president at CBRE, specializes in retail anchor leasing and represented the property owners, 3773 Investments & VOP Associates.

“We generated five offers on the space, ultimately choosing to lease to Aldi due to their outstanding credit and business reputation,” he said.

Aldi leased the entire building but will only occupy approximately 18,000 square feet and will sublease the balance.

The Addison store will be Aldi’s 140th store in the Chicago area.  Craig Lillibridge, first vice president at CBRE, represented Aldi in the transaction and exclusively represents them throughout the region.