Though the 421,000-square-foot Woodfield Village Green shopping center across Golf Road from Woodfield Mall in Schaumburg was sold for $93.2 million last month, shoppers shouldn’t expect any immediate shake-ups in the property beyond growth of its tenant makeup.
Since the Aug. 22 closing, two of the four existing vacancies have already been spoken for by new leases with Nothing Bundt Cakes and The Good Feet Store.
The center based at 1446 E. Golf Road was among 11 sold by Ohio-based Site Centers during the third quarter for a total price of $552.7 million, according to a company update. Meanwhile, the firm bought four convenience shopping centers in Cleveland, Nashville, Houston and Atlanta for a total of $88 million as part of a series of recent financial activity.
The purchase of Woodfield Village Green brings Seattle-based Bridge33 Capital’s number of Illinois shopping centers up to five. The others are Woodscreek Commons in Algonquin, Westport Commons at Kedzie and 87th in Chicago, Northland Plaza near Northern Illinois University in DeKalb, and Broadview Village Square in suburban Broadview.
“We are happy to add Woodfield Village Green to our portfolio, and we look forward to managing the center to a high standard and continue attracting quality retailers to the center,” Assistant Property Manager Linda Dabler said. “As mentioned, we are excited to add The Good Feet Store and Nothing Bundt Cakes coming soon to the center.”
Schaumburg Economic Development Director Matt Frank said he’s already met with Dabler and isn’t anticipating any proposals for alterations to the shopping center.
“There won’t be any changes with Woodfield Village Green,” he said. “Bridge33 Capital shared this is a strong center that allows them to expand their investment portfolio. I believe Site Centers is doing this for financial and restructuring reasons.”
Woodfield Village Green shopping center in Schaumburg, located across Golf Road from Woodfield Mall, was sold in August by Ohio-based Site Centers for $93.2 million to Seattle-based Bridge33 Capital.
Joe Lewnard/jlewnard@dailyherald.com
The center’s larger tenants include Marshalls, Nordstrom Rack, PetSmart, Container Store, HomeGoods, Michaels, Bloomingdale’s Outlet, Barnes & Noble, Old Navy and Trader Joe’s.
Woodfield Village Green was recently added to Bridge33 Capital’s website showing just two remaining vacant spaces, one of 30,273 square feet and the other 3,340 square feet.