Westwood Acquires Chicago Amazon-Anchored Store
- Jun 14, 2018
Westwood Financial Corp. has acquired an Amazon-anchored retail store in Chicago’s Lincoln Park neighborhood. The 2,800 square-foot boutique is located at the ground floor of a mixed-use building on the southwest corner of Webster and Sheffield Avenues.
The asset benefits from strong demographics, with a population of more than 500,000 within a 3-mile radius and an average household income of more than $115,000. A part of it—approximately 3,000—are university students who live on campus.
The store is located at 2200 N. Sheffield Ave., across the street from DePaul University and adjacent to the Armitage and Halsted Shopping district, which consists of approximately 100,000 square feet of retail space. Some of the businesses operating nearby are Bonobos, Warby Park, MAC, L’Occitane and Lululemon.
“Westwood’s acquisition of the Lincoln Park Amazon retail store is representative of not only our desire to increase our urban Chicago footprint, but, more importantly, it is indicative of the convergence between online and brick-and-mortar retail and the importance of last mile distribution,” said Westwood’s CEO Joe Dykstra, in a prepared statement. Last month, the company spent $66.2 million on two Sprouts-anchored shopping centers in Chandler, Ariz., and Decatur, Ga.
Image via Google Street View