Deal Size
$12.4M
Cap Rate
Est. 6.20%
$/SF
—
Size
259K SF
Occupancy
—
The Randhurst Village Outparcels Portfolio presents a mixed investment opportunity. The lack of disclosed cap rate and occupancy data makes it challenging to fully assess the financial attractiveness. However, the strategic location adjacent to a Costco-anchored shopping mall with national tenants like Chipotle and Panera Bread suggests stable demand. The $12.4M price for 258,591 SF implies a price of approximately $47.95/SF, which could be competitive depending on market rents. Without more detailed financial metrics, a cautious 'Hold' position is recommended until further due diligence can be completed.
Lula Holdings appears to be pursuing a core-plus strategy, focusing on stable assets with potential for moderate value enhancement. Their acquisition of a retail portfolio with national tenants suggests a focus on income stability and potential for rent growth.
RREF III-P Randhurst Village may be selling as part of portfolio rebalancing or capital recycling, given the involvement of a capital markets subsidiary in arranging the sale.
This transaction indicates continued interest in retail assets within primary suburban markets, particularly those anchored by strong retail centers. The involvement of institutional players like Marcus & Millichap suggests confidence in the retail sector's recovery post-COVID.
$6.4M
US Bank
Mount Prospect, part of the Greater Chicagoland area, benefits from the broader Chicago market's stable population and income levels. The area has seen moderate population growth, driven by suburban migration patterns.
The properties are strategically located near Randhurst Village, a major retail hub. Comparable assets in the area include other retail centers anchored by national chains, which maintain strong occupancy due to high consumer traffic.
The source does not mention any specific new developments in the immediate submarket, suggesting limited near-term supply threats.
The tenant mix includes a variety of national brands, reducing single-tenant risk and providing a diversified rent roll.
Elston Plaza
Chicago · Retail · acquisition
Randall Square
Chicago · Retail · acquisition
Retail Center
Chicago · Retail · disposition
Three-building retail portfolio (Randhurst Village outparcels)
Mount Prospect · Retail · acquisition
1419 W. Diversey Parkway
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