JLL Arranges Sale of Newly Developed Retail Center in Oakbrook
JLL closed the sale of The Overlook at Oakbrook, a 54,120-square-foot, newly developed, triple-net-leased trophy retail center located in the western Chicago suburb of Oakbrook, Illinois.
JLL represented the seller, GW Properties, and procured the buyer, MetLife Investment Management. The JLL Retail Capital Markets team was led by Senior Managing Director Alex Sharrin, Senior Director Michael Nieder, Associate John Detlaff and Analyst Noel O’Donnel.
The Overlook at Oakbrook features a mix of seven single-tenant and multi-tenant free-standing buildings leased to market-leading occupiers in the restaurant, education, medical and services space. The 100-percent-leased center is anchored by Guidepost, Lazy Dog, Panera and Vet Emergency Group. Additionally, the center is shadow-anchored by the top-performing Costco in Illinois.
“This deal was a true testament to the location, location, location commercial real estate moniker, attracting bids from private, international and institutional capital,” said Sharrin.
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.