Regency Centers recently announced the acquisition of Naperville Plaza, a 115,000-square foot shopping center in the greater Chicago metro area. This dual-grocery anchored location features a strong, well established mix of national, regional and local tenants, high barriers to entry, and a loyal customer base.
Anchored by one of the highest-trafficked Trader Joe’s in the state, Naperville Plaza is also home to Casey’s Foods, a local specialty grocery store at the center for over 30 years, as well as many other longstanding occupants. Due to its prime location in the market and the essential needs and merchandising strength of the center, Naperville Plaza is a proven retail destination with long-term competitive advantages.
Naperville Plaza is an ideal Regency acquisition due it its tenant mix, high barriers to entry, and connection with the local community,” said Nick Koglin, Vice President, Market Officer at Regency Centers. “It is the perfect opportunity for us to implement our operational strengths, and selectively enhance what is already ‘good’ to make it ‘great.’