Encore Enterprises has announced the acquisition of two grocery-anchored retail shopping centers — Northpoint Center in Arlington Heights, Ill., and Cowesett Corners in Warwick, R.I. The retail centers were acquired through a new co-general partnership with AmCap Management Holdings, a wholly owned subsidiary of AmCap Management.
“The grocery-anchored retail sector continues to demonstrate resilience over prior years, showing strong net absorption and vacancy rates that are in line-to-below historical submarket averages,” said Mike Nelson, president at Encore Commercial. “This co-GP joint venture marks Encore’s fifth portfolio acquisition with AmCap, an elite partner with an impeccable track record and decades of experience within the retail grocery anchored shopping center space.”
Cowesett Corners is a 152,595-square-foot grocery-anchored retail center in the heart of Rhode Island’s retail trade district with national tenants Stop & Shop, PetCo, Five
