One of Naperville's marquee real estate assets has new ownership. Retail Properties of America acquired the 182k SF Main Street Promenade, which contains one of Naperville's highest concentrations of shopping and nightlife, in an $88M deal.
Main Street Promenade was originally built by BBM in 2003, with a second phase four years ago. One of the linchpins to this trade is a vacant parcel that comes with village approval to build an extra 62k SF, according to Crain's.
Main Street Promenade was 93% leased when the deal closed on Jan. 13. It's split between 79k SF of office space and 103k SF of retail. [Crain's]
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