Edgemark has acquired Hillside Town Center, a regionally dominant 160,330-square-foot open-air retail center located in Hillside, Ill., within the Chicago MSA.
Hillside Town Center is strategically positioned at 30 South Mannheim Road at the intersection of Interstate 290 and Mannheim Road. The property is located 0.1 miles from a full two-way interchange and 12.5 miles from downtown Chicago.
The center is 99 percent occupied across six buildings. It features a diverse tenant mix anchored by a shadow Target store. Major tenants include HomeGoods, Ross Dress for Less, Michaels, Petco and Planet Fitness, with national tenants accounting for 87 percent of total income.
The property demonstrates leasing momentum with nine recent deals totaling more than 110,000 square feet, including a brand new 10-year lease with Planet Fitness and eight renewals. The weighted average lease term is seven years, with no single tenant representing more than 15 percent of revenue.
