CHICAGO—Orland Park retailers have had a good year so far, and brokers from Transwestern's Chicago office say that helped them fetch the asking price of $10 million for Orland Park Crossing, an upscale retail center located at 14215 S. LaGrange Rd. that was just sold to Edwards Realty. “That was what we were hoping to get and we got it,” says Janice Sellis, a director of capital markets with Transwestern. Sellis and Paul Barile, a Transwestern director, along with C-III Realty Services, represented the seller, C-III Asset Management, in the transaction.

“There aren't really any major vacancies in the area,” Sellis adds. The last major vacancy in all the nearby retail centers and malls, now occupied by a Whole Foods, was at 15260 S. LaGrange. And in Orland Park Crossing itself, many tenants have recently signed lease renewals and even expansions. Francesca's, for example, a women's clothing store, just renewed its lease even though it also has another location in the nearby Orland Square Mall, a sign, Sellis says, of their great confidence in the submarket.

The 48,842-square-foot Orland Park Crossing was developed in 2005 and features a roster of national tenants including Ann Taylor, White House | Black Market, Talbots, Coldwater Creek, Chico's, Panera Bread and Starbucks. At the time of sale it was 95% occupied.