DeBartolo Development buys second Chicago-area center

Tampa-based DeBartolo Development LLC has purchased a portion of Bradley Commons, a 500,000-square-foot regional power center in Bradley, Ill.

DeBartolo acquired a 175,000-square-foot piece of Bradley Commons that sits between two dominant anchors, a Walmart Supercenter and a Kohl's, and includes Dick's Sporting Goods, Bed Bath and Beyond and PETCO. The acquisition also includes seven vacant outparcels fronting Route 50 and 98 acres of commercially and residentially zoned land adjacent to and behind the center.

Bradley Commons is DeBartolo's second retail property in the Chicago area.

“Bradley Commons' location in the growing retail corridor of Bradley, Ill., is consistent with our investment strategy to increase our holdings in core urban markets with Class-A value-add assets,” Edward Kobel, president and chief operating officer of DeBartolo Development, says in a press release. “We're really excited about adding another quality retail center in the Chicago area to our portfolio.”

In May, DeBartolo acquired Prairie Stone Crossing, a 61,000-square-foot mixed-use community retail center in the Chicago suburb of Hoffman Estates.