CHICAGO, IL – HFF announced today that it has been named to market for sale The Streets of Woodfield (top left photo), a 711,402-square-foot, retail project in Schaumburg, Illinois. The Streets of Woodfield is 98% leased on a long-term basis, and anchored by Whole Foods Market, Crate & Barrel, Dick’s Sporting Goods and Carson Pirie Scott.
The Streets of Woodfield also includes a 20-screen AMC Theatre and the U.S. flagship store for LegoLand Discovery Center. The property is located at 601 North Martingale Road immediately adjacent to Woodfield Mall (middle right photo), a 2.2 million-square-foot super regional mall.
The HFF investment sales team representing the seller includes director Daniel Kaufman (lower left photo) along with executive managing director Matthew Lawton, and senior managing directors Jim Batjer and Barry Brown.
“The center features a dynamic, thoroughly modern architectural design, which appeals to the area’s sophisticated shopper base, and the open-air circulation allows excellent visibility into the project from Interstate 290 at the entrance to Woodfield Mall,” said Kaufman.
“The Streets of Woodfield is a well-seasoned retail landmark in suburban Chicago which sits at a main-and-main location adjacent to one of the nation’s top 25 super regional malls. The center’s A+ retail location, outstanding / productive tenant mix, and upside potential are highly coveted by retail real estate investors today,” added Kaufman.
“The trade area offers retailers an exceptional demographic base featuring 270,000 people within a five-mile radius of the property and an $87,000-plus average household income.
Approximately 250,000 cars per day travel past The Streets of Woodfield on I-290 and Higgins Road. As a result of the area’s outstanding demographic characteristics, the Woodfield Mall submarket is a tier-one location for retailers doing business in the United States and The Streets of Woodfield is a first stop location for those retailers.
The property’s retail tenants report consistently high sales including top 10 percent of chain performance for a number of the retailers. The recent additions of Whole Foods and Crate & Barrel confirms the strength of the trade area and further demonstrates the complimentary nature of The Street of Woodfield and its neighboring super-regional mall,” added Batjer.
Contacts:
Daniel A. Kaufman, HFF Director (312) 528-3650, dkaufman@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500
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