CBRE Vice President Keely Polczynski has assisted Barnett Capital in the sale of The Shoppes at Prime Village at 1410-1444 Algonquin Road in Schaumburg to St. Louis-based Integris Ventures for approximately $7.25 million.
Barnett Capital originally purchased the loan on the property from TCF Bank and brought the property through foreclosure. CBRE was hired to both lease and manage the building for Barnett after the loan purchase. The team of Karen Pence-Hollan and Gavin Smith handled the management of the center and Lynn Brackett and Marissa Roussel handled the leasing. Subsequently, the group brought The Shoppes at Prime Village to 100 percent capacity at the time of sale.
Built in 2008, the 38,313-square-foot center is located at the intersection of Algonquin and Meacham roads directly across the street from Motorola’s world headquarters. It is anchored by Aldi and includes Chicago Prime Steakhouse, Culvers and 322 parking spaces.
This acquisition is the first for Integris Ventures in the Chicago area.