Sheridan Village represents Broad Reach's first HyVee anchored shopping center and marks the company's first acquisition announcement of 2025.
ANNAPOLIS, Md., Jan. 15, 2025 /PRNewswire-PRWeb/ -- Broad Reach Retail Partners, LLC, a value-add owner and operator of retail shopping centers, proudly announces the acquisition of Sheridan Village, a 150,000-square-foot grocery-anchored shopping center located in Peoria, Illinois, just outside Springfield. Anchored by HyVee, one of the region's most dominant grocery brands, this acquisition continues Broad Reach's momentum as the company begins 2025 with plans for even more growth.
"This acquisition is a significant milestone for us," said Nate Tower, CEO of Broad Reach Retail Partners. "Sheridan Village represents our first HyVee anchored center and further solidifies our commitment to owning and operating essential, community-driven retail properties. HyVee's strong market presence and consistent traffic-generation make it an excellent addition to our growing portfolio."
About Sheridan Village
Sheridan Village is a dynamic shopping center strategically located at the highly visible intersection of North Sheridan Road and West Lake Avenue in Peoria, Illinois. The property features:
• Anchor Tenant: HyVee, a dominant grocery retailer in the region.
• Retailers: A mix of national and local tenants, including Planet Fitness, Jersey Mike's, Verizon, SportClips, LensCrafters, GNC, Fannie May Premium Chocolates, Chiro One, and CSL Plasma.
• Available Leasing Opportunities: 7 spaces available, ranging from 1,200 square feet to 6,600 square feet, plus an outlot of 0.5 acres.
• Recent Enhancements: A 2020 facade renovation and a newly resurfaced parking lot in 2024.
• Key Metrics: Strong traffic counts exceeding 21,000 cars daily, over 1,100 parking spaces, and a prime location serving the Peoria community.
"We are thrilled to add Sheridan Village to our portfolio," said Jim Whelan, Vice President of Acquisitions for Broad Reach Retail Partners. "This property perfectly aligns with our strategy of acquiring well-known, high-traffic grocery-anchored centers with strong market fundamentals and opportunities for leasing and value creation."
Looking Ahead
Sheridan Village is Broad Reach's first acquisition announcement of 2025, signaling the company's continued appetite for growth. "Our pipeline remains robust, and we look forward to pursuing additional centers across the country," added Tower. "With our talented leasing and management teams, we're eager to unlock the full potential of this property and others like it."
For press inquiries or additional information about Sheridan Village, please contact Emily Roberts at [email protected]. For leasing information, please contact Johnathan Ortner at [email protected].
About Broad Reach Retail Partners
Founded in 2006, Broad Reach Retail Partners, LLC is a privately held, fully integrated owner and operator of shopping centers. Since its inception, Broad Reach has owned, leased, or managed 66 centers, representing over 5 million square feet. The company's mission is to create value for its partners, properties, and people by maximizing the full potential of underutilized shopping centers through focused leasing, disciplined buying, and meticulous management. For more information, visit BroadReachRetail.com.
Media Contact
Emily Roberts
Marketing & Communications
Broad Reach Retail Partners
Media Contact
Emily Roberts, Broad Reach Retail Partners, 1 4432254808 1013, [email protected], www.broadreachretail.com
SOURCE Broad Reach Retail Partners
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