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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Kimco Trades Chicagoland Retail to Local Buyer

HFF has arranged the $20-million sale of Woodgrove Festival, a 157,276-square-foot retail center in the Western suburb of Woodridge, IL. Senior directors Amy Sands and Clinton Mitchell marketed the property on behalf of shopping center REIT Kimco Realty Corporation, which had acquired it in 1998.

Completed in 1985 and renovated and expanded in 2010, Woodgrove Festival is 88.3% leased to a tenant roster including Hollywood Blvd. Cinema, Five Below, Starbucks, T-Mobile and Panera Bread. The buyer, Schaumburg, IL-based North American Real Estate, specializes in acquiring and redeveloping Chicagoland shopping centers.

The 15.17-acre Woodgrove Festival serves the neighboring communities of Downers Grove, Darien, Lisle, Woodridge and Westmont. More than 103,000 residents with an average annual household income of $105,000 live within a three-mile radius of the center.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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