Faris Lee sells Village Square in Illinois

Property tenants include Circuit City, Old Navy
Published on Oct 12, 2004

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....