Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of Orland Park Place, the dominant open-air regional center serving the affluent Chicago suburb of Orland Park, IL.  The 649,668 square foot  center was 87% occupied and sold to PMAT.

Orland Park Place is anchored by strong national retailers including Nordstrom Rack, Dick’s Sporting Goods, Marshalls, Ross Dress for Less, Hobby Lobby, Old Navy, Barnes & Noble, DSW, Ashley Furniture, and Steinhafels, together with a diverse mix of retail, service, and restaurant tenants.  The dense, strong income area within a 5-mile radius of Orland Park Place contains a population of over 160,000 residents with average household incomes in excess of $133,000.

Mid-America Real Estate Corporation Principals Ben Wineman, Rick Drogosz, and Joe Girardi were the exclusive brokers in the transaction on behalf of IRC Retail Centers/DRA Advisors. The property was managed by Pine Tree.

PMAT Real Estate Investments is a real estate development and investment platform focused on value-add Select Open Air Retail (SOAR) investments across the Southeast, Sunbelt, Southwest, and Midwest regions with over 100 completed transactions consisting of approximately 12.5 million square feet with an aggregate value in excess of $1.5 billion. PMAT’s proven investment strategy is to acquire fundamentally strong, value-add Select Open Air Retail (SOAR) assets anchored by grocery, discount, off-price and necessity tenants and to create long-term value through redevelopment, renovation, and re-tenanting.

About Mid-America

Mid-America Real Estate is #1 in retail real estate services in the Midwest, with full-service offices in Illinois, Michigan, Minnesota, and Wisconsin. Our exclusive focus on retail property, combined with cutting-edge technology and unsurpassed service, distinguishes Mid-America within the industry and provides clients with a competitive edge. The company manages and leases 60 million square feet of retail space and represents over 270 retailers. Mid-America’s Investment Sales Group represents clients in the sale of retail properties throughout the greater Midwest region. The Investment Sales Group’s strategic approach combines outstanding national exposure with the best local knowledge, resulting in the successful disposition of over $16 billion to date.  For more information, visit www.midamericagrp.com.

Media Contact for More Information:

Olivia Simmons | 630.954.7363 | [email protected]