CHICAGO, May 16, 2016 – Cushman & Wakefield has arranged the sale of Fabyan Randall Plaza, a 91,415 square foot shopping center anchored by Trader Joe’s and Walgreens located at 1980 W. Fabyan Parkway in Batavia, Ill. Senior Directors Evan Halkias and Michael Marks, and Director Nick Kanich of Cushman & Wakefield’s Retail Investment Advisory Group represented the seller, InvenTrust Properties. The buyer was Dallas-based Netco Investments, Inc.
“Fabyan Randall Plaza is well positioned along the heavily-travelled Randall Road corridor,” said Halkias. “By leasing the existing vacancy and leveraging the co-tenancy of Trader Joe’s and Walgreens, the new owner has an opportunity to add significant, immediate value.”
Situated on 11 acres, Fabyan Randall Plaza has a prominent location at the intersection of Randall Road and Fabyan Parkway with more than 60,000 vehicles passing the shopping center daily. In addition to Trader Joe’s and Walgreens, other national tenants include Smashburger, Sports Clips, Edward Jones and Papa John’s. A former 32,924 square foot Circuit City and an 11,300 square foot Office Depot offer contiguous space and also have visibility and signage on Randall Road and Fabyan Parkway – a prime leasing opportunity that further fueled investor interest.
“This offering presented investors with the opportunity to acquire a well-located, grocery-anchored retail center,” said Marks. “This was a very competitive sale process, attracting a strong pool of value-add operators.”
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