Search
 

Covington Adds Suburban Center for $32M

ST. CHARLES, IL-The Chicago-based acquirer of retail and multifamily assets pays $186.43 per sf for 171,648-sf Main Street Commons.

By Marita Thomas | Updated on September 08, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

ST. CHARLES, IL-Chicago-based Covington Realty Partners advanced on its goal to invest $250 million by year’s end with the acquisition of Main Street Commons, a 171,648-sf community shopping center at Route 64 and Kirk Road. It paid $32 million, or $186.43 per sf, to an unidentified limited partnership.

The property, located on a 20-acre, irregularly shaped site, was developed between 2000 and 2001. It is currently 94.6% leased. Among the tenants are Borders Books & Music, Stein Mart, Office Depot, Amish Furniture Gallery, Cost Plus World Market and Caribou Coffee. Two outparcels are operated by LaSalle Bank and Jared Jewelers under reciprocal access agreements with the center.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.