Transactions - JANUARY 13, 2020

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Crow Holdings Capital acquires suburban Chicago retail center

by Released

A private real estate fund advised by Crow Holdings Capital has purchased Westlake Plaza, a 42,018-square-foot, internet-resistant neighborhood shopping center in Chicago’s affluent Northshore community of Wilmette, Ill.

The seller was Newport Capital Partners.

Westlake Plaza is one of only three neighborhood centers within the market, and no new retail space east of Interstate 94 has been delivered to the market over the last 40 years. The center is 83 percent leased to a variety of internet-resistant tenants, including Supercuts, Subway, Dunkin’ Donuts, Westlake Chiropractic HealthCare Center, Finest Fit Cleaners, Ivy Cleaners, Mei Lin House and Professional Eye Care. Situated on 2.5 acres at 3207 Lake Avenue, Westlake Plaza is on Chicago’s North Shore and surrounded by some of the most prestigious and affluent suburbs in the country. More than 110,000 residents earning an average annual household income of $182,250 live within a three-mile radius of the cent

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