Ramco-Gershenson acquires Mount Prospect Plaza for $36.1M

Ramco-Gershenson Properties announced that it has acquired Mount Prospect Plaza in Mount Prospect, Illinois, a densely populated, infill northwest Chicago suburb, for $36.1M, which represents an initial capitalization rate of 7.4%. The 301,000 square foot property is anchored by Marshalls, Ross Dress for Less, Aldi, and LA Fitness as well as a Walgreen’s data processing center. The shopping center is shadow anchored by a Wal-Mart Supercenter.