Woodridge retail center sold for $20M
Woodgrove Festival, a 157,276-square-foot retail center in Woodridge, has been sold for $20 million.
The Holliday Fenoglio Fowler team marketed the property on behalf of the seller, Kimco Realty Corp. North American Real Estate purchased the center.
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 W. 75th St., Woodgrove Festival is located at the southwest corner of 75th St. and Lemont Road, an intersection with 58,248 vehicles per day in the heart of the 75th Street retail corridor of Woodbridge.
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.