Mid-America Real Estate Corp.’s Investment Sales Group recently brokered the sale of the 301,045-square-foot Mount Prospect Plaza in Mount Prospect.
Ramco-Gershenson Properties Trust purchased the property for $36.1 million from a pension fund advised by JP Morgan Asset Management Inc.
Mount Prospect Plaza, located in a dense, infill area at Rand and Central roads, is anchored by Marshalls, Ross Dress for Less, LA Fitness, Aldi, Petco and Walgreens, and also features Dressbarn, Famous Footwear, Chase Bank and Charter One Bank. The center is additionally shadow anchored by Walmart Supercenter.
Ben Wineman and Stan Nitzberg of Mid-America Real Estate Corp. were the exclusive representatives of the seller in the transaction. The buyer was self-represented.
