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Woodfield Village Green Getting Makeover

SCHAUMBURG, IL-Beachwood, OH-based Developers Diversified Realty Corp. is renovating two retail centers for $1.9 million, Woodfield Village Green at 1430 E. Golf Rd. in this "edge city" and another center in Lebanon, OH.

By Mark Ruda | Updated on November 20, 2001

SCHAUMBURG, IL-Fresh off opening its second retail center in a previously underserved Lake County submarket, Developers Diversified Realty Corp. is renovating a center here that it has a 20% interest in. The Beachwood, OH-based retail REIT is spending $1.9 million at Woodfield Village Green here and in Lebanon, OH.

The 2.5-million-sf Woodfield Village Green is at 1430 E. Golf Rd., across the street from Woodfield Shopping Center and in a retail and office area that includes some of the most valuable real estate outside of the Chicago Central Business District. Anchored by such tenants as Circuit City and Service Merchandise, the center is 99% leased with an average base rent of $14.75 per sf.

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