Pine Tree takes over Bannockburn center

Pine Tree LLC assumed operational responsibility for Bannockburn Green, a 183,792-square-foot community shopping destination in Bannockburn.

The Northbrook-based company has been engaged by the property's owner to handle asset management and property management responsibilities for the shopping center.

Developed in 1984 and renovated in 2008, Bannockburn Green is anchored by Walgreens and Heinen's Fine Foods, a Cleveland, Ohio-based, family-owned, upscale grocery chain established in 1929 that focuses on superior customer experience, a high-quality meat selection, and fresh market produce. Heinen's currently has 24 locations, four of which are located in the greater Chicago area.

Located at the intersection of Waukegan Road and Half Day Road, Bannockburn Green is the only community shopping center within a two-mile radius.

"Pine Tree is very excited to be involved in the day-to-day operations of such an important North Shore community shopping destination like Bannockburn Green, which is located in our own backyard," said Timothy J. Roe, Pine Tree's executive vice president, senior director leasing. "We believe we can strengthen what is one of the most important retail assets in Chicago's North Shore through our extensive retail expertise in enhancing shopping centers and creating more vibrant shopping and entertainment experiences."

Since its founding in 1995, Pine Tree has acquired 96 properties and completed over $2.1 billion in transactions. The company's projects are located across the United States.