Core Acquisitions Buys Shopping Centers in Tinley Park, Schaumburg
An affiliate of Core Acquisitions has completed shopping center acquisitions totaling 203,000 square feet of space in Tinley Park and Schaumburg. The seller of both assets was DRA Advisors.
Park Center in Tinley Park is a 132,000-square-foot shopping center anchored by Chuck E Cheese, CFX Fitness, and American Freight, and shadow anchored by Aldi and Sam’s Club. With occupancy at acquisition at 75 percent, Core plans to implement a value-add strategy to lease up the vacancies.
Woodfield Plaza in Schaumburg is a 71,000-square-foot center that was 45 percent leased at the time of acquisition. Current tenants include David’s Bridal, Blick Art Materials, and Phenix Salon Suites. Woodfield Plaza acquisition financing was provided by Lakeside Bank. Property management services will be provided by Core Acquisitions.
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Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.