NORTHBROOK, Ill. (November 14, 2018) – A fund managed by New York-based DRA Advisors has partnered with Northbrook-based Pine Tree, LLC to acquire The Shops at Kildeer, a 171,339-square-foot shopping center in the affluent Chicago suburb of Kildeer, Illinois for a purchase price of $32.5 million.
First developed in 2001, The Shops at Kildeer is located approximately 33 miles northwest of downtown Chicago near the intersection of Rand Road and Long Grove Road – directly across from Deer Park Town Center, one of the Chicago MSA’s highest-performing lifestyle centers – at the epicenter of one of the strongest retail nodes in the Chicagoland area. Anchored by Bed Bath & Beyond, Ulta Beauty, Michael’s, Old Navy, Uncle Dan’s (formerly Erehwon Mountain Outfitter), and Cost Plus World Market, the shopping center also features a complementary mix of quick-service restaurants and small shops with excellent visibility along Rand Road/Route 12.
“The Shops at Kildeer combines over 1,200 feet of outstanding and unobstructed visibility from Rand Road, a strong national and regional tenant mix, and great market demographics that include the nearby affluent suburbs Barrington, Lake Zurich, and Long Grove,” said Conor Bossy, Senior Vice President, Director of Acquisitions for Pine Tree. “We’re proud and excited to have partnered with DRA Advisors in adding this strong community center to our growing portfolio of shopping centers around the country.”
The deal was brokered was George Good of CBRE. Financing was provided by Wells Fargo and arranged by William Barry of Draper and Kramer.
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About Pine Tree:
Pine Tree, LLC is a Northbrook, Illinois-based full-service real estate company specializing in retail. Since its founding in 1995, Pine Tree has completed over $2.1 billion in transactions. The company’s projects are located across the United States.
Press Contact:
Kasia Yuska
kyuska@dodier.com
DODIER & COMPANY
(800) 970-7392 or (520) 299-1000
