CHICAGO—In affluent suburban towns like Naperville and Schaumburg the best retail locations are leased up for premium rates, and that has definitely perked up interest among investors. Retail Properties of America, Inc. recently became the latest buyer to close a major retail purchase in Naperville by acquiring Main Street Promenade, a mixed-use development of 182,000 square feet in the heart of its downtown, for a gross purchase price of $88 million.

The project includes about 103,000 square feet of retail space and 79,000 square feet of office. Tenants currently occupy 93.1% of the space, including Anthropologie, J Crew, Soft Surroundings, Ann Taylor, LOFT, Sur la Table, White House Black Market and Hugo's Frog Bar & Fish House.

“We continue to be very active in our pursuit of high quality assets within our target markets,” says Matthew Beverly, senior vice president, director of investments. And as Naperville boasts an average household income of $130,000, making it one of the most affluent and well-educated zip codes in the country, Main Street Promenade was a good fit for the Oak Brook, IL-based firm.