DOWNERS GROVE, IL—Inland Real Estate Acquisitions Inc. recently purchased the 104,196-sq.-ft. Commerce Center shopping plaza here for $9.9 million.
The center is located at Butterfield Road and South Highland Avenue., along a major retail corridor extending east on Butterfield to Oakbrook Center in Oak Brook, Ill. The property includes tenants Toys ‘R’ Us and Best Buy. In addition to the retail store, Best Buy uses the location to house a 10,000-square-foot training center and regional office.
Mark Cosenza, a vice president at Inland who facilitated the transaction, said the company has a long relationship with the village for retail and multifamily assets. “The Butterfield Road retail corridor is one of the strongest in the western suburbs,” Cosenza said in a statement. “It is an excellent site, as evidenced by Best Buy’s recent decision to renew its lease at the property for a new 10-year term, and both tenants are paying sustainable rents at below-market rates.”