NAPERVILLE, IL — A former car dealership that has been vacant in Naperville for years will soon be transformed into a $19 million shopping center.

Thompson Thrift Retail Group recently announced the acquisition of the 4.2-acre property that once housed Fair Oaks Ford, with plans for “an undisclosed nationally recognized business as the anchor,” according to a news release. The 46,000-square foot development will occupy part of the now burgeoning Ogden Avenue Corridor that includes Naperville’s upcoming second Costco location, Guzman y Gomez and Culver’s.

“Naperville’s strong fundamentals in terms of employment, education, safety and overall quality of life make it one Chicago’s most sought-after suburbs,” Ryan Menard, vice president of development for Thompson Thrift Retail Group said in the news release. Menard added,”We are pleased that in an environment that has pushed many to the sidelines that our team’s reputation for execution and excellence allowed us to acquire a vital property with a signed anchor tenant that will be well-received by the community.”

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SOURCE ( Lisa Marie Farver, Patch )