Former Dominick’s Store Gets New Lease on Life
- Aug 18, 2015
A former Dominick’s store in suburban Chicago is about to get a fresh start.
Tony’s Finer Foods acquired the 96,014-square-foot Town Square at Schaumburg store in Schaumburg, Ill. Transwestern’s Chicago office brokered the sale of the property with the help of its Capital Markets Directors Janice Sellis and Paul Barile. The Transwestern team represented the seller in the transaction—a pension fund also managed by the company. Tony’s Finer Foods was represented by Lawrence Tucker of Tucker Real Estate. Terms of the deal were not disclosed.
“Given the lack of grocery stores within a 3-mile radius of the property, this was a compelling opportunity for another grocer,” said Sellis. “The buyer is a well-established, family-owned chain that has a history of successfully converting former Dominick’s stores to fit its format. Tony’s will benefit from the location’s high traffic counts and densely populated neighborhoods in the surrounding area.”
Located at 140-200 S. Roselle Road, the 90 percent occupied store is home to tenants such as Scottrade Inc., Hair Cuttery, Bonefish Grill and Chiro One, among others. The property previously housed a Dominick’s retail store which closed in December 2013.
Image courtesy of Transwestern