Octave Holdings has acquired Randall Square, a 171,860-square-foot shopping center in Geneva, in a transaction brokered by Mid-America Real Estate Corporation’s Investment Sales Group. The property, described as a premier center serving the Chicago suburb, changed hands for a reported $29 million.
Randall Square is characterized in the marketing as an institutional-quality retail asset with a roster of top-performing national tenants. The center’s line-up includes Nordstrom Rack, Marshalls, Ulta, PetSmart, Skechers, Five Below, Uncharted and Old Navy, positioning the property as a destination for value-oriented and specialty retail within its trade area.
Mid-America Real Estate Corporation’s Principal Joe Girardi and Vice President Emily Gadomski served as the exclusive listing brokers for the seller, Viking Partners. Their Investment Sales Group handled the disposition process, ultimately securing Octave Holdings as the buyer of the center.
The sale marks a relatively quick turn for Viking Partners, which originally purchased Randall Square in October 2023 for $31 million. The current transaction at $29 million reflects a modest change in pricing over that period while maintaining institutional sponsorship on both sides of the trade.
Located at 1460 S Randall Road, Randall Square is 96% occupied, according to information provided with the sale. The center sits along the heavily trafficked Randall Road retail corridor in Geneva, a well-established commercial artery that serves a wide regional customer base.
The surrounding trade area is supported by strong demographics, with average household income reported at more than $160,000. This income profile, combined with the center’s tenant mix and high occupancy, underscores Randall Square’s positioning as a stable, needs-based retail destination within its submarket.
The transaction highlights the continued liquidity for large, well-leased suburban shopping centers anchored by national retailers, with specialized investment sales teams such as Mid-America’s platform continuing to play a central role in matching institutional sellers with active private and institutional buyers.
