Nassimi Realty, a real estate development company based in New York, has recently acquired two retail properties. The first property is Lake Plaza located at 2702 Belvidere Road in Waukegan, Illinois within the Chicago area. The second property is Hillcrest Shopping Center situated just minutes away from Downtown Pittsburgh.
These acquisitions add up to approximately 400,000 square feet of retail space and demonstrate Nassimi Realty’s strategic focus on expanding their presence in the Midwest region by acquiring properties with potential for growth.
Lake Plaza currently boasts a high occupancy rate of 96% and features major anchor tenants such as Dollar Tree, Rainbow, and Walgreens Community Pharmacy. Similarly,Hillcrest Shopping Center has Giant Eagle and Roses as its anchor stores along with other complementary tenants like Shoe Sensation,NBT Tire & Service Center,Fine Wine & Good Spirits,and GameStop.
“We are delighted to have these two shopping centers join our portfolio,” stated Oliver Nassimi,Vice President of Nassimi Realty.”This aligns perfectly with our core business strategy.We were able to complete due diligence quickly and close both deals promptly using all-cash transactions.”
