Girardi and Mike George represented Centrum Properties in the sales transaction. The 62,815-sf shopping center is anchored by Walgreens. Glenbrook Market Place is 95% leased, Girardi tells GlobeSt.com. Other tenants at the retail center include BoRics, Merry Richard Jewelers, Cartridge World, Jimmy John's Gourmet Sandwiches and MB Financial Bank. "You have a strong tenant line up," Girardi says. The asking lease rate is around the $25 per sf range, net, he says. A separately-owned LaSalle Bank is on an outlot in the shopping center. Newport reportedly received $13.4 million in financing from Fifth Third Bank to acquire the property.

The center was constructed in 1992. "It is a great corner in a very dense infill affluent neighborhood of (the) Chicago (area)," Girardi says. The center is adjacent to The Glen, a newly developed, 1,121-acre master-planned mixed-use development. The Glen is on the site of the former Glenview Naval Air Station. The base was closed in 1993, and was redeveloped into a $400 million mixed-use project. Also nearby is the Shops of Heatherfield, which was acquired last year by locally-based ER James & Co. for $22.5 million. The 89,273-sf shopping center at the southwest corner of Waukegan Road and Westleigh Drive is anchored by Jewel-Osco, with other tenants including Panera Bread, Papa Murphy's and the UPS Store.