Daniel Katz Of KPR Centers Acquires Pointe Plaza Shopping Center In Niles For $40M

KPR Centers acquired a retail asset located at 5660 West Touhy Avenue in Niles, Illinois. The shopping center, known as Pointe Plaza, encompasses 195,000 square feet and was sold for $40 million, translating to a price of $205 per square foot. At the time of sale, the property was 94% leased, anchored by Fresh Farms.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $40,000,000
• Square Footage: 195,000
• Address: 5660 West Touhy Avenue
• Market: Niles
• Price Per Square Foot: $205
• Buyer: Daniel Katz - KPR Centers
• Brokers: Richard Frolik, Chris Williams & George Good - CBRE

The transaction was facilitated by CBRE, with Richard Frolik, Chris Williams, and George Good representing the seller. This deal highlights the involvement of key brokerage professionals in successfully closing the sale of this retail property.