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  NASSIMI REALTY CORP. ACQUIRES 129,000-SQUARE-FOOT SHOPPING CENTER
CATEGORY: AcquisitionsREGION: MidwestPROPERTY: Norwood Square Shopping CenterPOSTED ON: March, 20 2008

PARK FOREST, ILL. — New York-based Nassimi Realty Corp. has acquired Norwood Square, a 129,000-square-foot shopping center located at the corner of 26th Street and Western Avenue in Park Forest. Located on 15 acres, the property is currently occupied by Family Dollar and Currency Exchange. Nassimi is planning a multi-million dollar redevelopment of the property to increase occupancy; at least $1 million will be spent in the first 12 to 15 months. Jason Berngard of Baum Realty Group and Chad Firsel of NAI Hiffman represented the undisclosed seller. Nassimi utilized in-house representation. The acquisition price was also undisclosed.

Related Link: REBusinessOnline.com



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