Search
 

The Ridge Plaza Purchased for Nearly $25M

ARLINGTON HEIGHTS, IL-A joint venture between Galileo Shopping America Trust and New Plan Excel Realty Trust, has purchased 151,643 sf of the center.

By Gina Kenny | Updated on February 04, 2007

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

ARLINGTON HEIGHTS, IL-The Ridge Plaza, a shopping center at the northwest corner of Dundee Road and Ridge Avenue, has been sold to New Plan/Galileo, a joint venture between Galileo Shopping America Trust, based in Australia, and New Plan Excel Realty Trust, in New York City. The sale price was nearly $25 million, a source said.

The shopping center is 256,310 sf, and the sale included 151,643-sf of the center. The portion of the center occupied and owned by Kohl’s was excluded from the sale. Principal Rick Drogosz and Associate Joe Girardi, both with Mid-America Real Estate Corporation’s Investment Sales Group, handled the sale to New Plan/Galileo on behalf of the seller.

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

© 2025 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 © 2025 ALM Global, LLC. All Rights Reserved.