Grosvenor has acquired Rice Lake Square, a 250,000-square-foot Whole Foods-anchored shopping center in Wheaton, Ill.

 

The property, originally developed in 1989, is located about 25 miles west of Chicago near the intersection of I-88 and I-355.

 

The property was approximately 95 percent leased at the time of sale to a variety of tenants, including Linens ‘n’ Things, Borders Books and Music, Stein Mart, Panera Bread, and several restaurants, in addition to the Whole Foods grocery.

 

Bob Mahoney of CBRE represented the seller, Kennedy Associates, in the acquisition. Chicago-based Mid-America will lease and manage the center for the new ownership.

 

Grosvenor is a privately owned property development and investment group.

***

Send a Letter to the Editor for publication.
Send a comment or news tip to our
newsroom.
Please include the headline of the story.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Time is running out to secure your Connect Now tickets at the lowest price. Don't miss out on a chance to grow yourself and your business.Learn More×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription