Broad Reach Retail Partners Just Bought the Wood River Centre in Illinois
ANNAPOLIS, MARYLAND — Broad Reach Retail Partners, an owner and operator of shopping centers, today announced its acquisition of the Wood River Centre, an up and coming property in Wood River, Illinois.
Anchored by a new Walmart Supercenter, Wood River is situated on the eastern bank of the Mississippi River, 15 miles from downtown St. Louis. SIZE The center consists of almost 70,000 square feet of leasable property, spread across 21 acres.
The center is 60% occupied, with almost 30,000 square feet for rent, in sizes from 1,500 to 8,500 square feet.
Tenants include Dollar Tree, H&R Block, Sally Beauty, Steak ‘n Shake, Taco Bell, and Wendy’s, plus a variety of local companies.
Within a five-mile radius are 55,000 consumers who, on average, have a household income of $60,000. “The Wood River Center combines a plethora of stable, high-performing tenants with the potential for explosive growth,” said Nate Tower, the founder and chief executive of Broad Reach. “As we’ve done with dozens of other properties, we’re confident we can develop the center’s unused and underused space, and return a significant profit for both our investors and the Wood River community.”
ABOUT BROAD REACH
Broad Reach Retail Partners is a privately held, fully integrated owner and operator of shopping centers. The company maximizes the full potential of underutilized shopping centers through focused leasing, disciplined redevelopment, and meticulous management.