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| Woodgrove Festival Photo by McShane Fleming Studio |
CHICAGO, IL –- Holliday Fenoglio
Fowler, L.P. (HFF) announces the $20 million sale of Woodgrove Festival,
a 157,276-square-foot retail center in the Chicago-area suburb of Woodridge,
Illinois.
The HFF team marketed the property on behalf of
the seller, Kimco Realty Corporation. North American Real Estate
(NARE) purchased the asset.
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| Amy Sands |
Completed in 1985 and renovated and expanded in
2010, Woodgrove Festival is 88.3 percent leased to Hollywood Blvd. Cinema, Five
Below, Carter’s, Shoe Carnival, Pearle Vision, Starbucks, T-Mobile, Carrabba’s
Italian Grill, Jameson’s Charhouse, Panera Bread and more.
Additionally, the center is shadow
anchored by Kohl’s. Situated on 15.17 acres at 1001 West 75th Street,
Woodgrove Festival is located at the southwest corner of 75th Street and Lemont
Road, a highly trafficked intersection with 58,248 vehicles per day in the
heart of the 75th Street retail corridor of Woodbridge, a community about 29
miles west of downtown Chicago.
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| Clinton Mitchell |
More than 103,000 residents with
an average annual household income of $105,000 live within a three-mile radius
of the center, which services the neighboring communities of Downers Grove,
Darien, Lisle, Woodridge and Westmont.
The HFF investment advisory team representing
the seller included senior directors Amy Sands and Clinton Mitchell.
Kimco Realty Corp. (NYSE: KIM) is a real estate
investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of
North America’s largest publicly traded owners and operators of open-air
shopping centers.
For further information, please
visit www.kimcorealty.com, the
company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
Since 1998, North American Real Estate (NARE)
has specialized in the investment and redevelopment of Chicagoland shopping
centers. More information about NARE is available at http://naregroup.com.
CONTACTS:
KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
AMY SANDS
IL Lic. #475.138622
HFF Senior Director
(312) 528-3650
CLINTON MITCHELL
HFF Senior Director
(312) 528-3650
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