Illinois Power Center

Original article published on Real Estate Alert

Time Equities last week paid $32 million for a 341,000-squarefoot power center in McHenry, Ill. Mid-America Real Estate brokered the sale for DDR, a Beachwood, Ohio, REIT. Shops at Fox River is at 3340 Shoppers Drive, 55 miles northwest of Chicago. It’s 83% leased by Bed Bath & Beyond, Dick’s Sporting Goods, PetSmart, Ross, TJ Maxx and other retailers. Time, a New York investment firm, will seek to fill vacant space, including a 30,000-sf box store. The property includes a nearly two acre parcel that could be developed.