Retail N Illinois
Two-property shopping center portfolio in the Chicago MSA changes hands

Two-property shopping center portfolio in the Chicago MSA changes hands

Sterling Organization, headquartered in Palm Beach, Florida, has announced the acquisition of a two-property portfolio of shopping centers totaling 266,303 square feet of gross leasable area in the Chicago MSA. The portfolio—which consists of Hillside Town Center in Hillside, Illinois, and Prairie Market in Oswego, Illinois—was purchased on behalf of Sterling Organization’s institutional fund, Sterling Value Add Partners III, LP (“SVAP III”), for an undisclosed amount.

Retail N Illinois
Empty storefronts pose unique retail opportunities

Empty storefronts pose unique retail opportunities

Over 2,500 storefronts closed during the first half of this year, with another 500+ retail locations expected to follow suit before the year is out. But all is not lost. According to a new retail outlook research report by JLL, these store closures present an opportunity for new retail and new uses, whether those vacancies are in strip malls, power centers or regional malls.

Retail X Missouri
Knoebel completes construction of craft brewery, restaurant in St. Louis

Knoebel completes construction of craft brewery, restaurant in St. Louis

Construction is complete for the new $2 million HopCat restaurant and craft beer bar in the Delmar Loop in St. Louis, with Knoebel Construction serving as the general contractor. The new 8,580-square-foot location features seating for 245 guests, draft bar, an outdoor beer garden that seats 100 guests and event space. The developer was BarFly Ventures and the architect was Cuhaci & Peterson.