MetLife Investment Management Acquires Oak Brook Retail Property For $41M

GW Properties has successfully sold a retail property located at 1715-1775 West 22nd Street in Oak Brook, Illinois. The shopping center, spanning 54,120 square feet, was acquired by metlife-investment-management'>metlife-investment-management'>metlife-investment-management'>MetLife Investment Management for a total sale price of $41,000,000. The property's price per square foot stood at $758. The transaction took place on October 11, 2023, and was facilitated by brokers Alex Sharrin, John Detlaff, Michael Nieder, and Noel O'Donnel of JLL.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $41,000,000
• Square Footage: 54,120
• Price per Square Foot: $758
• Address: 1715-1775 West 22nd Street, Oak Brook, Illinois
• Market: Oak Brook

The sale of the Oak Brook shopping center by GW Properties to metlife-investment-management'>metlife-investment-management'>metlife-investment-management'>MetLife Investment Management marks a successful deal amidst pandemic challenges. The property's strong tenants and the robust submarket were key factors contributing to its success. The involvement of brokers Alex Sharrin, John Detlaff, Michael Nieder, and Noel O'Donnel from JLL further facilitated the transaction.