Retail N Illinois

CBRE brokers $21M sale of Oakbrook Terrace shopping center

CBRE brokers 21M sale of Oakbrook Terrace shopping center,ph1

CBRE recently brokered the sale of 22nd Street Plaza, a 176,164-square-foot retail property at 17W734 22nd Street in Oakbrook Terrace, Illinois. George Good and Christian Williams of CBRE represented the owner, Kimco Realty Corp. A California-based private investor acquired the property for $21 million.

Located in a popular west suburban trade area, 22nd Street Plaza is 100 percent leased to retailers such as Home Depot, Party City and Big Lots. Restaurants Twin Peaks and Naf Naf Grill are located on the property as well. It offers 850 parking spaces to accommodate shoppers.

“For the buyer, this will be a wonderful long-term investment, as it is a well-positioned asset in a very popular corridor and should continue to draw interest from national retailers in search of a prime location,” said Williams.