NARE Acquires Woodgrove Festival in Suburban Chicago for $20 Million

Woodridge, Ill. — North American Real Estate (NARE) has acquired Woodgrove Festival in Woodridge, located 29 miles west of Chicago, for $20 million.

The 157,276-square-foot retail center was completed in 1985 and renovated and expanded in 2010. The property is 88.3 percent leased to tenants such as Maurices, Hollywood Blvd. Cinema, Five Below, Carter’s, Shoe Carnival, Pearle Vision, Starbucks Coffee, T-Mobile, Carrabba’s Italian Grill, Jameson’s Charhouse and Panera Bread. Amy Sands and Clinton Mitchell of HFF represented the seller, Kimco Realty Corp.