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Newmark Arranges $95M Sale of Suburban Chicago Retail Center
Newmark has arranged the $95 million sale of Randhurst Village, a 931,798-square-foot open-air retail center in Mount Prospect, Illinois.
The transaction follows DLC’s 2016 acquisition of Randhurst Village and the execution of a comprehensive leasing and redevelopment strategy that reimagined the property and strengthened its market-dominant position. The center is anchored by Costco, Jewel-Osco, and The Home Depot, along with a leading mix of national retailers including TJ Maxx, HomeGoods, AMC Theaters, Planet Fitness, Old Navy, Michaels, DSW, and PetSmart.
Newmark President, Head of Retail Capital Markets Conor Lalor and Senior Managing Director Keely Polczynski represented seller DLC in the transaction, with support from Associate Director Brian Schneiderman. The buyer was Rhino Investment Group.
“DLC did an exceptional job creating meaningful value at Randhurst Village,” said Polczynski. “Despite market volatility, the transaction closed at the original contract price, and we are confident the property will continue to thrive under Rhino’s ownership.”
