Regency Buys Willow Festival

In the second largest Chicago retail sale of the year, Regency Centers purchased the 405k SF Willow Festival in Northbrook for $64M  from its developer, Hamilton Partners. Regency's Nick Wibbenmeyer says the Whole Foods-anchored center is located in a great  infill  location in the upscale North Shore, making it an easy sell for the Texas-based owner-operator's 17th Chicago center. The new owner worked with Transwestern's Paul Barile (formerly with HFF), who brought the center to their attention. They'll take over the existing loan on the property.
With just under 18k SF left to lease in the center, Nick says Regency will look for a soft goods retailer to complement the Home Goods, REI, and DSW already in the center, or maybe a service provider like a dentist or insurance agent. Regency also recently purchased the 64k SF Glen Oak Center in Glenview and sold Stone Crossing  in Bartlett. Nick says he's looking to continue the company's growth in 2011, focusing on long-term ownership of grocery-anchored centers is key markets.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

California Investor Scoops Up Amazon Warehouse: The Chicago Deal Sheet

How Crystal Lake 'Connects The Dots' To Building Complete Community

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

Brandon Johnson Seeks Second Term Amid Strained CRE Relationship

Prologis Acquires 69 Acres For 1M SF Chicago-Area Industrial Development

Former CBRE Exec Suing Brokerage Giant Over Age Discrimination, Whistleblower Complaint

D.C. Investor Behind The Stacks Swaps CEO For First Time In 25 Years

First LaSalle Street Reimagined Conversion Opens In Chicago's Loop

CBRE IM Buys Net Lease REIT For $1.6B, Plans More Investment

The Difference Between Service And Hospitality That Makes A Flexible Workspace A Success

Beyond The Boom: How Miami's CRE Market Continues To Be Resilient