Bridge33 Capital Buys Chicago-Area Retail Center

Highland Grove. Image courtesy of Mid-America Real Estate Corp.

Bridge33 Capital has purchased Highland Grove, a 312,406-square-foot retail center in Highland, Ind. Madison International Realty was the seller, according to CommercialEdge data. Mid-America Real Estate Corp.’s Investment Sales Group brokered the transaction.

Completed in 1956, Highland Grove encompasses six buildings on a 29-acre site. Anchored by Kohl’s, Burlington, Macy’s, Michaels, Petco, Ulta and shadow-anchored by Target, Best Buy and Ashley Furniture, the retail center was 100 percent leased at the time of sale. The property’s tenant roster also includes Five Below, Famous Footwear, Potbelly, Yankee Candle, GameStop, Wingstop, Torrid and Olive Garden.

Situated in Chicago’s Outlying Lake County submarket at 10300 Indianapolis Blvd., Highland Grove is right off Route 41, in an area with a high traffic count. Hoosier Prairie State Nature Preserve and Sky Zone Trampoline Park are within a 2-mile radius.

Mid-America Real Estate Principals Ben Wineman and Joe Girardi, along Principal Rick Drogosz, worked on behalf of the seller. Girardi and Drogosz were also instrumental in the $23.5 million sale of a 175,369-square-foot grocery-anchored retail property in Bourbonnais, Ill.