Nassimi Realty, a New York-based real estate development company, announced the acquisition of two retail properties: Lake Plaza in the Chicago area at 2702 Belvidere Road, Waukegan, Illinois, and Hillcrest Shopping Center, minutes from Downtown Pittsburgh.

Combined, the acquisitions total nearly 400,000 square feet of retail space and reflect Nassimi Realty’s strategic focus on expanding its Midwest footprint by acquiring properties that have significant upside.

Lake Plaza is 96% leased and features anchor tenants, including Dollar Tree, Rainbow, and Walgreens Community Pharmacy. Hillcrest Shopping Center is anchored by Giant Eagle and Roses, along with complementary tenants such as Shoe Sensation, NTB Tire & Service Center, Fine Wine & Good Spirits, and GameStop.

“We are pleased to add these two shopping centers to our portfolio,” said Oliver Nassimi, Vice President of Nassimi Realty. “This is the core of Nassimi Realty’s business. We had a short due diligence period and closed on both in a timely manner, all cash.”