{"id":1004262194,"date":"2018-09-05T00:04:03","date_gmt":"2018-09-05T08:04:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004262194"},"modified":"2022-12-08T02:18:09","modified_gmt":"2022-12-08T10:18:09","slug":"nare-expands-chicagoland-retail-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nare-expands-chicagoland-retail-portfolio\/","title":{"rendered":"NARE Expands Chicagoland Retail Portfolio"},"content":{"rendered":"<div id=\"attachment_1004262197\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Woodgrove-Festival-Mall.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004262197\" data-attachment-id=\"1004262197\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nare-expands-chicagoland-retail-portfolio\/woodgrove-festival-mall\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Woodgrove-Festival-Mall.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Woodgrove Festival Mall\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Woodgrove Festival Mall&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Woodgrove-Festival-Mall.jpg?w=800\" class=\"wp-image-1004262197 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Woodgrove-Festival-Mall.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Woodgrove-Festival-Mall.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Woodgrove-Festival-Mall.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Woodgrove-Festival-Mall.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004262197\" class=\"wp-caption-text\">Woodgrove Festival<\/p><\/div>\n<p>North American Real Estate has expanded its Illinois retail portfolio by acquiring Woodgrove Festival, a 157,276-square-foot shopping center in Woodridge. The property belonged to Kimco Realty Corp. and sold for $20 million. HFF Senior Directors Amy Sands and Clinton Mitchell closed the deal on behalf of the seller.<\/p>\n<p>Woodgrove Festival is located 29 miles west of Chicago, at the corner of 75th Street and Lemont Road. With a nearly 89 percent occupancy rate and 31 stores on the tenant roster, the property is one of the several shopping centers in the Chicago area which <a href=\"https:\/\/www.commercialsearch.com\/news\/surviving-the-retail-revolution-a-guide-for-small-operators\/\">survived the retail revolution<\/a>.\u00a0Completed in 1985 and last renovated in 1999, the retail center features more than 600 parking spaces, covering a total area of 261,000 square feet.<\/p>\n<p>Anchor tenants include Maurices, Ultra Foods, Petco, Marshalls, Kohls, Toys R Us and Walmart. A number of restaurants including Carrabba\u2019s Italian Grill, Jameson\u2019s Charhouse and Panera Bread operate at this location. More than 100,000 people live within a 3-mile radius, earning an average income of $96,000.<\/p>\n<p><em>Image courtesy of NARE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company acquired Woodgrove Festival, a roughly 157,000-square-foot retail center in Woodridge., Ill. The asset is approximately 89 percent occupied. <\/p>\n","protected":false},"author":242,"featured_media":1004262197,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21783,13,21742,21749],"tags":[34527,34528,32792,34368,41894],"class_list":["post-1004262194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-investment","category-midwest","category-latest","category-retail","tag-amy-sands","tag-clinton-mitchell","tag-hff","tag-kimco-realty-corporation","tag-nare-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NARE Expands Chicagoland Retail Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nare-expands-chicagoland-retail-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NARE Expands Chicagoland Retail Portfolio\" \/>\n<meta property=\"og:description\" content=\"The company acquired Woodgrove Festival, a roughly 157,000-square-foot retail center in Woodridge., Ill. 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