Next Realty Fund Buys Lincolnshire Commons

Next Realty Fund Buys Lincolnshire Commons

Next Realty Fund Buys Lincolnshire Commons in North Suburban Lincolnshire, Ill.;
Modern, 130,000 SF Center Originally Developed by General Growth Properties

 Northbrook, Ill.  (September 29, 2014)—On behalf of Next Realty Fund VIII, Next Realty LLC and its joint venture partner have completed the acquisition of Lincolnshire Commons, a Class A destination shopping center that was originally developed in 2007 by General Growth Properties (GGP). Terms of the transaction were not disclosed.

Lincolnshire Commons is located at the northwest quadrant of Milwaukee Avenue and Aptakisic Road in Lincolnshire, Ill., approximately 30 miles from downtown Chicago. The center totals almost 130,000 square feet of space and at acquisition was 90% percent leased.

“The acquisition of Lincolnshire Commons presented us with a unique opportunity to purchase a well performing asset that holds a dominant position in the market,” said Andrew S. Hochberg, Managing Principal and CEO of Next Realty. Marc Blum, President and COO of Next Realty added, “With some further leasing and efficient management, we intend to implement a value-added strategy that is in keeping with our historic experiences and successes.”

The modern center features a mix of upscale restaurants, fast casual dining, fashion shops and convenience-oriented retail. The largest tenants in the center are Barnes & Noble, DSW Shoe Warehouse, Cheesecake Factory, Fleming’s Prime Steakhouse, Kona Sushi, and Talbots.  Next Realty is in discussions with several additional tenants, who are complementary to the existing tenant mix, for the remaining vacancy.

NOW OPEN: Chipotle

NOW OPEN: Chipotle

7/10/2014 – 12/31/2014
Location: Chipotle
Contact: 8479487902

When Chipotle (pronounced chi-POAT-lay) opened its first store in 1993, the idea was simple: demonstrate that food served fast didn’t have to be a “fast-food” experience. We use high-quality raw ingredients, classic cooking methods and distinctive interior design–features that are more frequently found in the world of fine dining. When we opened, there wasn’t an industry category to describe what we were doing. Some 20 years and more than 1,600 restaurants later, we compete in a category of dining now called “fast-casual,” the fastest growing segment of the restaurant industry, where customers expect food quality that’s more in line with full-service restaurants, coupled with the speed and convenience of fast food.

We try to do a few things really well. We elevate basic raw ingredients into food that’s richer and more sophisticated through our recipes and cooking techniques. Similarly, our restaurant design transforms simple materials in distinctive ways, giving our restaurants a style that’s more architectural in nature and less dependent on standardized design elements.

Our focus has always been on using higher-quality ingredients and cooking techniques to make great food accessible to all people at reasonable prices. But our vision has evolved. While using a variety of fresh ingredients remains the foundation of our menu, we believe that “fresh is not enough, anymore.” Now we want to know the sources for all of our ingredients, so that we can be sure they are as flavorful as possible while we are mindful of the environmental and societal impact of our business. We call this idea, Food With Integrity, and it guides how we run our business.

Visit the new Chipotle location at Lincolnshire Commons now!

NOW OPEN: Naf Naf Grill

NOW OPEN: Naf Naf Grill

7/1/2014 – 11/30/2014
Location: NafNaf Grill

At Naf Naf, we believe the world is a beautiful place filled with cultures and foods that need to be experienced and cherished. Our food and concept represent this beauty that other cultures have to offer. It may be new to some, but our food has been around for hundreds of years, so we know it is good. Everything that is prepared here is made by hand, using only the finest, freshest ingredients.

In our kitchen, you will see pitas baking, fresh vegetables being chopped, and perfectly seasoned meats grilling over an open flame. It may cost us more to prepare food this way, but at the end of the day, we know we did it right. Some prefer to take shortcuts – at Naf Naf, we enjoy the reward of the long road.

Visit the new Naf Naf Grill location at Lincolnshire Commons!