CHICAGO—After a few tough years, the Chicago region's retail market is once again looking good to investors. That's especially true for grocery-anchored shopping centers. Phillips Edison Grocery Center REIT I, Inc., a Cincinnati-based firm, recently acquired from Walton Street Capital its Hoffman Village, a center in suburban Hoffman Estates now anchored by Mariano's, the metro area's hottest grocer.
According to Cook County property records, the price was $34.5 million.
The purchase represents a big turnaround for the 159,443 square foot property. It was hit with a foreclosure lawsuit in 2009 as the recession deepened, and then a few years later lost Dominick's, its longtime anchor tenant.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
