Oakbrook Terrace, Ill. — Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of The Shops of Uptown in Park Ridge, Ill. Phillips Edison-ARC REIT purchased the 70,402-sq.-ft. center for $27 million.
Trader Joe’s anchors the center, which also hosts Jos. A. Bank, Chico’s, LensCrafters Optique, Houlihan’s, Jason’s Deli and Noodles & Company.
Mid-America represented the seller, a joint venture of Benchmark Opportunity Partners LLC, formerly known as P.O’B Montgomery, and Long Wharf Real Estate Partners.