KPR Centers, a New York-based retail real estate development and investment group, has completed the $40 million acquisition of Pointe Plaza, a nearly 195,000-square-foot grocery-anchored shopping center in Niles, Illinois.

Situated approximately 15 miles north of downtown Chicago, the center is approximately 94 percent leased and anchored by Fresh Farms, Ross Dress for Less, dd’s Discounts, and Daiso, in addition to more than 20 retailers and restaurants. The asset is also shadow-anchored by Walmart, which was not part of the acquisition.

CBRE’s Richard Frolik, Christian Williams and George Good represented the seller in this transaction. Located at 5660 W. Touhy Avenue, Pointe Plaza features multiple free-standing outparcels occupied by Chick-fil-A, Walgreens and Wells Fargo. Additional retailers include America’s Best Contacts & Eyeglasses, Bath & Body Works, Crumbl Cookies, and Verizon Wireless. KPR now owns and self-manages more than 10 million square feet of retail space in 20 states.