Cole Real Estate purchases Darien Towne Centre for $22.3 million

Source:  REJournals.com

Transwestern’s Chicago office has brokered the sale of Darien Towne Centre located at 2189 75th St. in Darien. The 177,002-square-foot center was developed in 1994 and is anchored by Home Depot and shadow-anchored by a Walmart Supercenter.

National tenants at the center include PetSmart, O’Reilly Automotive, TGI Friday’s, Great Clips, Jenny Craig and Sally Beauty Supply. RPAI sold the property to Cole Real Estate for $22.3 million. Cole Real Estate also has the ability to expand the center by up to 12,000 square feet on a piece of land between PetSmart and Walmart.

“Darien Towne Centre is a high-quality and well-leased property,” said Janice Sellis, director of capital markets with Transwestern. “The recent conversion of the adjacent Walmart to a Supercenter format speaks to the strength of the property and will further enhance leasing and tenant sales in the future.”

Sellis and Paul Barile, Transwestern director, represented RPAI in the transaction.

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