Nassimi Realty Acquires 100K-SF Chicago Retail Center
Nassimi Realty has acquired Joffco Square, a retail center located at 555 West Roosevelt Road in Chicago’s South Loop, for $9.25 million. The 100,000-square-foot property, purchased at $92 per square foot, was previously acquired by the prior owner for $27 million.
Joffco Square is anchored by major retailer Best Buy and shadow-anchored by Home Depot. Located along the bustling Roosevelt Avenue, the center sits directly across from Whole Foods, Nordstrom Rack, Dick’s Sporting Goods, and Marshalls.
This acquisition further expands Nassimi Realty’s portfolio of retail assets in the Chicago area, following its recent acquisition of Lake Plaza in Waukegan. This acquisition marks the third direct transaction between Nassimi Realty and Pinetree.
“Joffco Square’s exceptional location, coupled with high traffic from all modes of transportation—whether by bus, train, foot, or car—makes it a prime retail destination for the entire Chicago area,” said Kevin Nassimi, Principal at Nassimi Realty.
