Faris Lee sells Village Square in Illinois

Property tenants include Circuit City, Old Navy

Faris Lee Investments advised RP Properties in the sale of Village Square, a 334,955-square-foot shopping center in Northbrook, Ill. The value of the transaction was $91 million. The property, located at 31-315 Skokie Blvd., was built in 1995 and consists of five buildings situated on 29 acres. Village Square boasted a 100 percent occupancy rate at the time of sale with tenants that included: The Container Store, Nordstrom Rack, Circuit City, Old Navy, Sports Authority and Linens 'N Things. Los Angeles, Calif.-based RP Properties, a private investment group, sold the property to four private buying entities led by Principal Mutual. Melvin Kaplan Realty represented the buyers. Irvine, Calif.-based Faris Lee Investments is an advisory and brokerage firm specializing in retail real estate. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....