Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of Market Meadows, a recently redeveloped 149,185 square foot grocery-anchored community center located in Naperville, Illinois.
Market Meadows is anchored by a strong-performing Jewel-Osco, providing excellent drawing power to the center. The 98% leased shopping center features a stable tenant line-up of national, regional, and local tenants including Jewel-Osco, McDonald’s, U.S. Bank, BMO Bank, Chipotle, Jersey Mike’s Subs, Delta Life Fitness, Dutch Bros, Big Blue Swim School, Versiti Blood Center of Illinois, T-Mobile and more. Since the recent redevelopment, the center has executed 22 new leases and features an unmatched average weighted lease term of 9 years.
Positioned at the corner of the fully signalized intersection of 75th Street (31,300 VPD) and Naper Boulevard (15,400 VPD), the shopping center features superb visibility and frontage along two major thoroughfares in Naperville. Naperville was ranked the third Best City to Live in America by Niche in 2022 and the area surrounding Market Meadows provides outstanding residential demographics.
Mid-America Real Estate Corporation Principal Rick Drogosz and Associate Eric Geskermann served as the exclusive listing brokers on behalf of the seller, Shorewood Development. The center was acquired by an institutional investor.
