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.
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