CHICAGO—RPAI has just sold the Darien Towne Centre to Cole Real Estate for $22.25 million. Located at 2189 75th St. in west suburban Darien, a Home Depot anchors the 177,002-square-foot center, which was developed in 1994. Transwestern's Chicago office brokered the sale.
“Darien Towne Centre is a high-quality and well-leased property,” says Janice Sellis, director of capital markets with Transwestern. “The recent conversion of the adjacent Walmart to a Supercenter format speaks to the strength of the property and will further enhance leasing and tenant sales in the future.”
Other national tenants at the center include PetSmart, O'Reilly Automotive, TGI Friday's, Great Clips, Jenny Craig and Sally Beauty Supply. Cole has the ability to expand the center by up to 12,000-square-feet on a piece of land between PetSmart and Walmart.
Sellis and Paul Barile, Transwestern director, represented RPAI in the transaction. The Chicago-based retail investment sales team has a combined 52 years of experience and has completed more than $2 billion in retail sales in the Midwest totaling more than 13 million square feet. The team's market coverage includes Illinois, Indiana, Wisconsin, Minnesota, Michigan, Ohio, Kentucky, Kansas, Missouri, Nebraska and Iowa.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
