MetLife Investment Management has sold Overlook at Oakbrook, a 2023-constructed unanchored strip center strategically located across from Oakbrook Center, for $44 million.
Overlook at Oakbrook is a 52,876-square-foot retail center located at 1715-1775 W. 22nd St. in Oak Brook. The property sits at the intersection of 22nd Street and Route 83 and is proximate to Interstate 88.
The seven-building retail center was completed in 2023 and is 94 percent occupied with 13 tenants, including Lazy Dog Restaurant and Bar, Panera Bread, Veterinary Emergency Group and Guidepost Montessori. The property features 80 percent national tenancy with no single tenant representing more than 20 percent of income.
The asset benefits from its shadow anchoring to Costco. Overlook at Oakbrook sits across from Oakbrook Center, which generates more than $1 billion in annual sales and attracts 14 million visitors annually.
JLL represented the seller and procured the buyer, a real est
