Value-add retail center near Chicago sold
JLL brokered the sale of Broadview Village Square to Bridge33 Capital
CHICAGO, January 8, 2020 – JLL Capital Markets announced today that it has closed the sale of Broadview Village Square, a 193,536-square-foot, value-add retail center in the Chicago-area community of Broadview, Illinois.
JLL represented the seller. Bridge33 Capital LLC purchased the asset.
Broadview Village Square is home to a tenancy mostly comprising national tenants, including Ross Dress for Less, Subway, Marshalls, PetSmart, GNC and Sally Beauty. Additionally, the retail center is shadow anchored by LA Fitness, Ashley Furniture HomeStore, Super Target and The Home Depot. Situated on 15.91 acres at 700 Broadview Village Square, Broadview Village Square is two miles from the 61-acre Loyola University Medical Center and Health Sciences Campus, which provides a built-in consumer base. It is also within the affluent Broadview suburb, which is 12 miles west of Chicago’s CBD. The property is surrounded by an affluent population that includes 162,178 households with an average annual household income of more than $100,000 and a buying power of $16.8 billion living within a five-mile radius.
The JLL Capital Markets team that represented the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Executive Vice President Janice Sellis.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Bridge33 Capital LLC
sed in Seattle with offices in Las Vegas and New York, Bridge33 Capital LLC is a vertically integrated real estate company focused on value-add investments. Since 2013, Bridge33 has acquired over 3.4 million square feet of retail and office properties in 16 states. bridge33capital.com