News Summary
Encore Enterprises, Inc. has announced the acquisition of two grocery-anchored retail shopping centers in Illinois and Rhode Island. The joint venture with AmCap Management includes Northpoint Center in Arlington Heights and Cowesett Corners in Warwick. This acquisition, finalized on April 24, 2025, expands Encore’s portfolio to 26 properties totaling 1.41 million square feet. Both centers host well-known national tenants and are positioned in strategic locations, reflecting the resilience of the grocery-anchored retail sector.
Illinois and Rhode Island have seen the expansion of Encore Enterprises, Inc. as the company announced the acquisition of two grocery-anchored retail shopping centers: Northpoint Center in Arlington Heights, Illinois, and Cowesett Corners in Warwick, Rhode Island. This acquisition, completed through a joint venture with AmCap Management Holdings LLC, marks the fifth partnership between the two firms. The acquisition date for both shopping centers was April 24, 2025.
With this new addition, Encore’s commercial portfolio has grown to a total of 26 properties, encompassing a significant 1.41 million square feet of retail space. This expansion reflects the ongoing resilience of the grocery-anchored retail sector, as noted by Mike Nelson, president of Encore Commercial, due to strong net absorption rates and favorable vacancy statistics.
Cowesett Corners in Rhode Island
Cowesett Corners is a sizable retail center measuring 152,595 square feet located strategically in Warwick, Rhode Island’s retail trade district. The center hosts several national tenants including Stop & Shop, PetCo, Five Below, and Oak Street Health. Its advantageous location, situated approximately 10 miles south of downtown Providence and about 50 miles south of Boston, places it within reach of significant roadways that enhance accessibility, specifically major interstates that facilitate traffic flow to and from the venue.
Northpoint Center in Illinois
Northpoint Center, in contrast, is a larger retail establishment at 276,333 square feet. It features an array of tenants, such as Jewel-Osco, Ross, Marshalls, Chase Bank, Five Below, and PopShelf. The center is positioned at a prime intersection of W. Rand Rd. and Arlington Heights Rd. within a bustling business community near downtown Chicago. Additionally, it benefits from proximity to significant expressways, specifically I-90 and I-290.
This location is especially noteworthy due to its closeness to the former Arlington Park racetrack, which is under review for development into a new stadium for the Chicago Bears, potentially boosting foot traffic and interest in the surrounding commercial properties.
Investment Strategies and Market Overview
AmCap CEO emphasized the stringent investment criteria they adhere to, focusing on necessity retail, which underscores the quality of properties targeted for acquisition. The strategic joint ventures with Encore further demonstrate a clear commitment to expanding their portfolio in the grocery-anchored retail space.
Encore Enterprises, Inc., founded in 1999 and based in Dallas, operates as a diversified investment firm with a robust track record. The firm has completed over 150 commercial real estate transactions valued at approximately $3.7 billion. It specializes in opportunistic and value-add strategies, concentrating primarily on non-gateway markets across the United States, with a focus on mixed-use retail, multifamily housing, hotels, and commercial office buildings.
Meanwhile, AmCap Management is recognized as a private equity firm specializing in grocery-anchored retail centers, boasting over $1 billion in assets under management. The firm’s investment philosophy emphasizes the importance of grocery-anchored establishments, which tend to provide stability and consistent demand in varying economic climates.
As the retail landscape evolves, both Encore Enterprises and AmCap Management continue to position themselves strategically, capitalizing on market opportunities that affirm the resilience of grocery-anchored retail sectors in different geographic locations.
Deeper Dive: News & Info About This Topic
Author: STAFF HERE PROVIDENCE WRITER
PROVIDENCE STAFF WRITER The PROVIDENCE STAFF WRITER represents the experienced team at HEREProvidence.com, your go-to source for actionable local news and information in Providence, Providence County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as WaterFire, Rhode Island International Film Festival, and Rhode Island Comic Con. Our coverage extends to key organizations like the Greater Providence Chamber of Commerce and Providence Warwick Convention & Visitors Bureau, plus leading businesses in finance and manufacturing that power the local economy such as Citizens Financial Group and Textron. As part of the broader HERE network, we provide comprehensive, credible insights into Rhode Island's dynamic landscape.
