News Summary
Encore Enterprises, Inc. has expanded its retail portfolio with the acquisition of two grocery-anchored shopping centers: Northpoint Center in Arlington Heights, Illinois, and Cowesett Corners in Warwick, Rhode Island. This acquisition, completed on April 24, 2025, marks Encore’s fifth partnership with AmCap Management, reflecting a strategic focus on resilient retail investment opportunities amidst market fluctuations. The Northpoint Center, featuring prominent tenants, is conveniently located near downtown Chicago, while Cowesett Corners serves Warwick’s retail trade district with crucial access to major highways and airports.
Illinois – Encore Enterprises, Inc. has expanded its retail portfolio with the acquisition of two grocery-anchored shopping centers: Northpoint Center in Arlington Heights, Illinois, and Cowesett Corners in Warwick, Rhode Island. The acquisitions were completed on April 24, 2025, and were made through a new co-general partnership with AmCap Management Holdings LLC. This is Encore’s fifth investment collaboration with AmCap, strengthening their joint position in the grocery-anchored retail sector.
Following this latest acquisition, Encore’s commercial portfolio now includes 26 properties, totaling approximately 1.41 million square feet. Northpoint Center covers 276,333 square feet and is strategically located at the intersection of W. Rand Rd. and Arlington Heights Rd., serving as part of a significant retail corridor. Current tenants at Northpoint Center feature prominent names such as Jewel-Osco, Ross, Marshalls, Chase Bank, Five Below, and PopShelf. The center benefits from its proximity to downtown Chicago, accessible via major highways I-90 and I-290, as well as two Metra commuter rail stations.
The Northpoint Center’s location is particularly noteworthy as it is situated about three miles from the former Arlington Park racetrack, recently purchased by the Chicago Bears, which may be redeveloped into a new stadium site. Additionally, O’Hare International Airport is approximately a 15-minute drive away, further enhancing the center’s accessibility.
Cowesett Corners, the second acquisition, is a 152,595 square-foot retail center located in Warwick’s retail trade district, which is Rhode Island’s second-largest city. This center features tenants such as Stop & Shop, PetCo, Five Below, and Oak Street Health. Cowesett Corners boasts convenient access to Interstates 95 and 295 and is near T.F. Green Airport, Rhode Island’s largest airport, and Kent Hospital, the second-largest hospital in the state. The center is also located about 10 miles south of downtown Providence and 50 miles south of Boston.
The acquisition of these grocery-anchored centers aligns with the resilience observed in the grocery retail sector, which shows strong net absorption rates and favorable vacancy statistics. This acquisition strategy reflects Encore’s commitment to robust retail investment opportunities that withstand market fluctuations.
Encore Enterprises was established in 1999 and has successfully completed over 150 commercial real estate transactions valued at around $3.7 billion. Presently, Encore has an Asset Under Management (AUM) of $1.8 billion across 32 states, diversifying its investment focus to encompass mixed-use retail centers, multifamily developments, hotels, and office buildings, as well as acquiring properties in the medical, dental, and restaurant sectors.
AmCap Management, with over 40 years of experience, specializes in grocery-anchored and daily-needs retail centers, managing over $1 billion in assets. The strength of their partnership with Encore is highlighted by their extensive sector expertise and investment discipline, making this collaboration a strategic move for both firms. With this acquisition, both Encore and AmCap aim to enhance their positions in the retail market by investing in properties that cater to essential consumer needs.
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