Baceline Investments Announces Acquisition of Neighborhood Shopping Centers in Chicago and Birmingham

Baceline Investments, LLC, a boutique private equity real estate investment and management company with retail holdings throughout the Central United States, announced today the acquisition of two cash-flowing neighborhood shopping centers, totaling 115,000 square feet, for the firm’s Value-Add/Opportunistic portfolio. Baceline acquired The Commons at Hazel Crest, located in suburban Chicago, for $4 million, and Roebuck Plaza in Birmingham, Ala. for $4.4 million.

The Commons at Hazel Crest, 18220-18244 Kedzie Ave. in Hazel Crest, Ill., is a 51,222-SF shopping center anchored by tenants Dollar Tree and CSL Plasma. Built in 1972, the property was recently renovated and is located in a dense suburban area situated at the intersection of two high traffic streets.

Roebuck Plaza, 220-260 Gadsden Highway, is a 63,677-SF retail center built in 1967 and renovated in 1987. The four-building property is located just off Interstate-59 near the Walmart Supercenter. Roebuck Plaza is anchored by high-profile tenants CVS and O’Reilly Auto Parts.

“The well-timed acquisition of these shopping centers for our Value Add/Opportunistic portfolio at below replacement cost is just another indication why the Midwest region shows so much promise in the real estate market,” said David Puchi, managing partner of Baceline Investments. “The Commons at Hazel Crest and Roebuck Plaza, both in high-traffic neighborhoods, have strong potential to provide attractive investment returns once we undertake our strategic approach to revitalization and an aggressive, hands-on management focus.”

Baceline’s Value-Add Strategy is designed to invest in neighborhood shopping centers located throughout America’s Heartland that have unrecognized potential because they are distressed or have otherwise been neglected. Identifying properties that have significant revitalization opportunity, coupled with Baceline’s geographical focus on the midsection of the United States, allows the firm to acquire real estate at favorable pricing.

About Baceline Investments

Founded in 2003, Baceline Investments, LLC is a Denver-based privately held boutique real estate investment and management company that specializes in the acquisition, management, and sale of necessity-based shopping centers in select secondary markets across America's Heartland. By avoiding high-priced and competitive commercial real estate markets on the coasts, Baceline’s Heartland focus provides untapped investment opportunity. This unique geographic focus allows investors to better diversify their investment portfolio. Learn more about Baceline Investments at www.bacelineinvestments.com or LinkedIn.

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