Bolingbrook’s Promenade under new ownership

The Promenade in Bolingbrook is under new ownership.

M&J Wilkow announced last week in a news release that it, along with Northbrook-based Bixby Capital, acquired the 779,000-square-foot open air shopping center located in the village off of Boughton Road near Interstate 355.

“We are pleased to add a retail asset of this caliber to our portfolio and expand our relationship with Bixby Bridge Capital,” John Wiechart, senior vice president of acquisitions and asset management at M&J Wilkow, said in a statement.

“We were attracted to The Promenade Bolingbrook because of its strong anchor tenants and its location in this growing southwest suburban retail node,” Wiechart said. “The Promenade offers significant opportunity for redevelopment and strategic leasing to solidify its position as the area’s premier regional shopping, dining and entertainment destination.”

Wiechart and his company pointed to the Promenade’s tenant roster that includes Binny’s Beverage Depot, Ulta and DSW.

The Promenade has more than 60 shops and 12 restaurants with indoor and outdoor seating. The center is anchored by DSW, Macy’s, H&M, Barnes & Noble, and Bass Pro Shop.

A new movie theater tenant also was recently announced to replace the IPIC Theater.

The two firms also own Outlets of Maui in Lahaina, Hawaii, according to the news release.