Bridge33 Capital Acquires Chicago-Area Retail Center

The nearly 200,000-square-foot property last changed hands in 2007 for $28.5 million.
Broadview Village Square. Image via Google Street View

Bridge33 Capital has purchased Broadview Village Square, a 193,536-square-foot, value-add retail asset near Chicago, from Spirit Realty. Public records show that Cole Credit Property Trust II paid $28.5 million for the retail center in 2007, later merging with Spirit in 2013. 

JLL Capital Markets represented the seller in the deal. The brokerage team included Managing Directors Amy Sands and Clinton Mitchell along with Executive Vice President Janice Sellis.

The shopping center’s tenant roster includes a combination of national and local retailers such as Ross Dress for Less, Subway, Marshalls, PetSmart, Lou Malnati’s Pizzeria and Fannie May. The property is also shadow anchored by LA Fitness, Ashley Furniture HomeStore, Target and The Home Depot.

Located at 700 Broadview Village Square in Broadview, Ill., the property was built in 1997. The 16-acre site is 1 mile from Loyola University Medical Center and Health Sciences Campus, and Downtown Chicago is 12 miles to the east.

Last April, Bridge33 partnered with Waterfall Asset Management to acquire Milford Crossing Shopping Center, a $59.6 million, 371,537-square-foot retail property in Connecticut.