Retail p Tennessee

Baceline Investments acquires shopping centers near Memphis, Chicago

Baceline Investments, LLC recently acquired three properties including Orchard Crossing and Hickory Creek shopping centers near Chicago and The Crossing shopping center southeast of Memphis, Tenn.

Baceline purchased Orchard Crossing, a 21,476-square-foot property in Aurora, Illinois, for $2.9 million. It will be part of Baceline’s value-add Opportunistic Strategy portfolio.

The firm also acquired two shopping centers for its core income fund including Hickory Creek for $4.56 million and The Crossing for $6.3 million. Hickory Creek is a 25,835-square-foot retail center in New Lenox, Illinois. The Crossing is a 42,000-square-foot property located in Olive Branch, Mississippi.

Baceline’s real estate investment strategy focuses on necessity-based neighborhood shopping centers located in markets throughout the US that have value-rich properties at opportunistic prices, less competition, and more supply of quality real estate, as opposed to gateway cities.

The acquisitions bring Baceline’s total number of properties owned to 60, representing more than $300 million in asset value.