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Riverbrook Shopping Center to Get New Name, Revamp
Chicago’s suburban Riverbrook Shopping Center in Naperville is set to get a revamp, complete with a new name for the 141,000-square-foot property. NewQuest Properties, a Texas commercial real estate firm, bought the retail site in the Spring of 2023 reported the Chicago Business Journal.
Since then, occupancy has grown from 31% to 72%, a NewQuest spokeswoman told the outlet. Now, the Houston-based developer aims to rename and redevelop the site, with plans calling for an exterior facelift, refreshed landscaping and an updated tenant lineup.
Once construction permits are secured, the company will select a general contractor for the project. Mid-America Real Estate is the property manager. NewQuest Properties will handle leasing. Completion is slated for the summer of 2025. “This project signifies our inaugural venture into the Chicago area,” Nguyen said. “The decision was driven by the appealing demographics and growth potential of Naperville.”
Image: NewQuest
