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BLOOMINGDALE, IL-Stratford Plaza, a 358,000-sf grocery-anchored power center across the street from Stratford Square, has been sold to a partnership led by Woodland Hills, CA-based NewMark Merrill Cos. for $50 million. Dominick's, Big Kmart, Sports Authority, PetsMart, Outback Steakhouse, Ruby Tuesday's and Shoe Carnival are among the tenants at the center at Gary Avenue and Schick Road, 96.4% leased when sold by Rreef Capital Management.

In addition to being across the street from a 1.2-million-sf shopping mall that is being renovated by Feldman Properties, Stratford Plaza also is sandwiched between a 210,000-sf Meijer SuperStore and 100,000-sf LifeTime Fitness health club. Stratford Plaza marks NewMark Merrill Cos.' debut in the Chicago market, but the new arrivals are teaming with GMX Real Estate Group, LLC.

"We are extremely excited about the acquisition of Stratford Plaza due to its outstanding tenant mix, the potential for improvement at the site, and because it is situated in one of the most desirable retail locations within its trade area," says president and chief executive officer Sandy Sigal, whose company swung the acquisition with a mortgage from PNC Real Estate Finance.