Retail Acquisitions
& Repositioning
Drawing on deep retail development and ownership experience, Granite's principals have acquired and owned nearly 1,000,000 square feet of retail space. These holdings range from single-tenant, net-leased properties acquired through tax-deferred exchanges to large multi-tenant centers requiring repositioning, renovation, and re-tenanting. We have worked with national retailers including Target, Kohl's, Walgreens, Aldi, Chase Bank, Office Depot, Gap, and Family Dollar.
Chicago, IL On an outparcel of Brockton Square, Granite purchased back a ground lease from a tenant and constructed a new Walgreens.
Homewood, IL With principals of Caton Commercial Real Estate, we purchased a neglected 12,000 sf shopping center in Homewood from the Village. Within a year, we fully renovated it and brought it to over 70% leased.
Chicago, IL Granite purchased this former Target store directly from Target after they relocated to a bigger store within the same shopping center. Granite divided the space and leased half to LA Fitness and the other half to Ashley Furniture.
Chicago, IL After Goldblatt's filed for bankruptcy, Granite purchased the empty building from a New York based firm, cleared several hurdles for redevelopment, and then sold to another developer.
Chicago, IL Granite purchased this center anchored by Bed, Bath and Beyond and continues to own the asset.
Evanston, IL This parcel was owned by Northwestern University for decades. The property was net leased to Chase Bank for a drive-through banking facility. Granite held the property and then sold it to Chase.
Chicago, IL Granite purchased this 300,000 sf shopping center from a REIT that was ordered to liquidate. Over the course of Granite's ownership, we bought out a ground lease, built a new Walgreens, and added over 50,000 sf of new tenants to the center.
Crystal Lake, IL In a joint venture, Granite completed a build-to-suit for then LaSalle Bank (now Bank of America) and continues to own this asset.
Orland Park, IL Granite made an opportunistic purchase of this bank branch and held it for 8 years prior to selling in back to the bank.
Oak Park, IL Granite purchased this vacant building which had been leased to a grocery store for over 50 years. The building was renovated and net-leased to a strong local tenant.
Chicago, IL This former Goldblatt's small format store was purchased in is "as-is" condition. It was renovated, leased to Family Dollar and sold.
Chicago, IL This empty Champs Sporting Goods building was purchased from Woolworth. Granite renovated the building and net-leased it to Gap, Inc. Granite held this asset for 5 years before selling it.
Forest Park, IL This building was net leased to a local pub and was sold within 3 years.
West Dundee, IL Granite purchased this 60,000 sf shopping center in a tax-deferred exchange and owned it for 5 years.