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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.
