Shops at GlenPointe Could Sell For $75 Million

The Glenview shopping center featuring Mariano’s is up for sale.

Shops at GlenPointe, a 143,451-square-foot property at Willow and Sanders roads along Interstate 294, is seeking a buyer as part of a venture of Chicago-based GlenStar Properties, according to Crain’s Chicago Business.

Based on comparable Mariano’s-anchored deals, GlenPointe could fetch about $75 million, the report indicates.

GlenPointe is hitting the market at a time when centers including Mariano’s or other large food stores have been attracting large pools of investors.

“The demand for grocery-anchored retail in core markets is as high as we’ve seen, with pricing hitting historic highs,” says Brandon Duff, regional director at Tulsa, Okla.-based brokerage Stan Johnson who is involved with a similar recent sale nearby when the Mariano’s -anchored Skokie Commons was exchanged for $48.5 million.

more via Crain’s Chicago Business

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