Dealmaker: JLL Arranges $41.65M for Retail Center in Illinois

(Image courtesy of JLL)

JLL, Chicago, secured $41.65 million in financing for a grocery-anchored shopping center in Wheaton, Ill.

The suburb sits about 30 miles from Chicago and is the county seat of DuPage County.

JLL represented the borrower, DLC, in arranging the five-year, fixed-rate loan.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Scott Aiese, Managing Director Christopher Knight and Director Alex Staikos.

The center, called Danada Square West, is anchored by a Jewel-Osco grocery store. Other occupants include TJ Maxx, HomeGoods, Burlington, The Paper Store, Ulta and Five Below. It currently boasts a 92.7% occupancy rate.

“The financing of Danada Square West demonstrates the continued strong appetite for well-positioned, grocery-anchored retail assets in affluent suburban markets,” Aiese said. “The property’s high-performing Jewel-Osco anchor, diverse national tenant mix and prime location in DuPage County attracted significant interest from lenders, resulting in favorable terms for our client.”