OAK BROOK, Ill. (Sept 11, 2024) – Pine Tree today announced that it was awarded the management of 16 Chicago-area retail assets, comprising one million square feet of retail space, and further expanding the company’s national footprint. All 16 properties are owned by Newcastle Properties, a private real estate investment firm with 82 properties in 23 states including a concentration of assets in Chicago and Las Vegas. The addition of these 16 assets grows Pine Tree’s owned and managed portfolio to 80 shopping centers and $2.5 billion of value.
The portfolio includes:
- Aspen Point (Vernon Hills, IL)
- Bloomingdale Auto Center (Bloomingdale, IL)
- Bloomingdale Square (Bloomingdale, IL)
- Boardwalk Plaza (Skokie, IL)
- Cicero Annex (Chicago, IL)
- Cadwell’s Corners (Deerfield, IL)
- Deerfield Commons (Deerfield, IL)
- Dempster Plaza (Niles, IL)
- Eastgate Plaza (Naperville, IL)
- Fox Valley Auto Center (Aurora, IL)
- Forest View Shopping Center (Chicago, IL)
- Huntley Retail Center (Carpentersville, IL)
- Market Square (Bolingbrook, IL)
- Milrand Retail Center (Carpentersville, IL)
- Orchard Plaza (Skokie, IL)
- Parkview Plaza (Chicago, IL)
“Pine Tree stands out nationally as one of the leaders in the retail real estate industry and we look forward to working with their team to help maximize the value of our investment portfolio,” said John E. Gross, CEO of Newcastle Properties, LLC.
“We couldn’t be more excited to provide value to our client and the greater Chicago community by bringing Pine Tree’s best-in-class management services to these 16 assets,” said Jennifer Costa, Executive Vice President at Pine Tree. “With Newcastle Properties’ reputation in the industry as a highly successful and established private real estate investment firm, we’re thrilled to kick off this relationship with this portfolio located in our home market.”
