Lula Holdings Acquires Retail Portfolio In Mount Prospect For $12.4 Million From RREF III-P Randhurst Village

The transaction involves a retail asset comprising a fully leased, three-building portfolio located on 3.6 acres in Mount Prospect, consisting of addresses 102 East Kensington Road, 1065 Elmhurst Road, and 1027 Randhurst Village Drive. The deal was finalized for $12,400,000, equating to a price per square foot of $539, encompassing a total area of 23,000 square feet.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $12,400,000
• Buyer: Lula Holdings
• Seller: RREF III-P Randhurst Village
• Buyer's Representative: Jeff R. Rowlett & Matthew Gordon - Marcus & Millichap
• Seller's Representative: Maggie Holmes - NorthMarq
• Market: Mount Prospect
• Acres: 3.6
• Square Feet: 23,000
• Price per Square Foot: $539

The acquisition was executed by Lula Holdings, which aims to invest in multi-tenant retail properties situated in strong metropolitan areas. The representatives for the buyer were Jeff R. Rowlett and Matthew Gordon from Marcus & Millichap, while the seller was represented by Maggie Holmes of NorthMarq.