Broad Reach Retail Partners is pleased to announce the successful sale of Wood River Plaza, a 65,838-square-foot shopping center located in Wood River, Illinois, approximately 15 miles northeast of downtown St. Louis.
ANNAPOLIS, Md., March 13, 2025 /PRNewswire-PRWeb/ -- Broad Reach Retail Partners is pleased to announce the successful sale of Wood River Plaza, a 65,838-square-foot shopping center located in Wood River, Illinois, approximately 15 miles northeast of downtown St. Louis. Broad Reach originally acquired the property in August 2017 and has since executed a robust value-enhancement strategy, culminating in the property's sale in January 2024.
During Broad Reach's ownership, Wood River Plaza's occupancy surged from 60.87% to 88.38%—a 45% increase—reflecting the company's commitment to strategic leasing and asset optimization. The property is shadow-anchored by a new Walmart Supercenter, and it's strong tenant mix includes Five Below, Edward Jones, Great Clips, Subway, Sally Beauty, Dollar Tree, H&R Block, America's Best Contacts & Eyeglasses, Help at Home, and GameStop, reinforcing the center's position as a retail destination.
"This sale is a testament to our hands-on approach and commitment to revitalizing neighborhood shopping centers," said Mike Castellitto, Partner & COO of Broad Reach Retail Partners. "We are proud of the significant enhancements made at Wood River Plaza, and we are thrilled to have delivered strong returns for our investors."
Strategically located with high visibility and accessibility, Wood River Plaza benefits from significant traffic counts, including 18,000+ cars per day on Illinois Route 255, 11,500+ cars per day on Vaughn Road, and 5,500+ cars per day on Wesley Road, and experiences strong daily traffic with over 2,500 shopping visits and 200 mass transit riders utilizing the property each day. It's convenient access to Route 255 and Illinois Route 3 further enhances its regional draw.
The shopping center serves a broad customer base, with 1.7 million people within a 45-minute drive and an average household income of $70,000. The strong demographics and Broad Reach's proactive leasing and management strategies contributed to the successful repositioning of the asset, creating substantial value for its investors.
For more information on Broad Reach Retail Partners and their portfolio of retail properties, please visit broadreachretail.com.
About Broad Reach Retail Partners
Broad Reach Retail Partners is a full-service real estate investment and management firm specializing in repositioning and enhancing neighborhood shopping centers. 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. With a proven track record of transforming underperforming assets into thriving retail destinations, Broad Reach is committed to delivering value to investors, tenants, and communities alike. For more information, visit BroadReachRetail.com.
Media Contact
Emily Roberts, Broad Reach Retail Partners, 1 443.225.4808 1013, [email protected], www.broadreachretail.com
SOURCE Broad Reach Retail Partners
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