Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of Orland Park Place, the dominant open-air regional center serving the affluent Chicago suburb of Orland Park, Illinois. The 649,668-square-foot center was 87% occupied and sold to PMAT.
Orland Park Place is anchored by strong national retailers including Nordstrom Rack, Dick’s Sporting Goods, Marshalls, Ross Dress for Less, Hobby Lobby, Old Navy, Barnes & Noble, DSW, Ashley Furniture, and Steinhafels, together with a diverse mix of retail, service, and restaurant tenants. The dense, strong income area within a 5-mile radius of Orland Park Place contains a population of over 160,000 residents with average household incomes in excess of $133,000.
Mid-America Real Estate Corporation Principals Ben Wineman, Rick Drogosz, and Joe Girardi were the exclusive brokers in the transaction on behalf of IRC Retail Centers/DRA Advisors. The property was managed by Pine Tree.
