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Granite Realty Buys 125,000-SF Former Target

BROADVIEW, IL-Granite Realty Partners plan to invest more than $15 million to turn the Target into a multi-tenant retail building at Broadview Village Square.

By Gina Kenny | Updated on October 12, 2007

BROADVIEW, IL-Granite Realty Partners, based in Oak Park, IL, has acquired a 125,000-sf building that was formerly a Target store at 200 Broadview Village Square. The building is located in the 750,000-sf Broadview Village Square at the northeast corner of the intersection of 17th Avenue and Cermak Road.

Granite Realty acquired the property for $6.2 million, confirmed Rob Palley, partner and co-owner of the company. He says he expects the total investment for the acquisition, renovation and tenant improvements to be more than $15 million. Steve Swanson and Matt Friday, both with Staubach Co., represented Target in the transaction.

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