February 7, 2019
Edwards Realty Company and Core Acquisitions have formed a joint venture to revitalize the Burr Ridge Village Center in Burr Ridge, IL. The 200,000-square-foot retail property at 701 Burr Ridge Pkwy. was originally built in 2007.
The JV acquired the property last month for $15 million, a fraction of its original $85-million construction cost.
“The Burr Ridge Village Center has been in need of new leadership, and working with Core Acquisitions, we intend to make it a true village center with a downtown atmosphere that encompasses more entertainment, more food and more retail,” said Ramzi Hassan, president of Edwards. “Our plans will take it from a typical shopping center to one that embraces consumer appeal.”
The tenant base includes the only Kohler Waters Spa in Chicagoland, one of the most successful Life Time Fitness Centers in the country, Victoria’s Secret, Bath & Body Works, Chico’s, J. Jill, Lenscrafters and Starbucks.
For comments, questions or concerns, please contact Paul Bubny