Indiana-based investor buys 160K-sf Addison retail center

​​ADDISON – A retail center built in the 1980s just sold to an Indiana-based investor.

Located at Belt Line Rd. and Montfort Dr., the 160,000-sf Prestonwood Place is home to Chipotle, Pollo Tropical, Twin Peaks, Orange Theory Fitness, and office tenants. It is 94 percent leased.

Kite Realty Group Trust purchased the 16-acre property. The previous owner was a subsidiary of New York-based Northwood Investors.

JLL brokered the sale.​