DALLAS – (May 6, 2025) – Encore Enterprises, Inc. (Encore) today announced the acquisition of two grocery-anchored retail shopping centers – Northpoint Center in Arlington Heights, Ill. and Cowesett Corners in Warwick, R.I. on April 24, 2025. The retail centers were acquired through a new co-general partnership with AmCap Management Holdings LLC (AmCap), a wholly owned subsidiary of AmCap Management LLC.
“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 of 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, Warwick, R.I.
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 Below and Oak Street Health. As Rhode Island’s second-largest city, Warwick is situated 10 miles south of downtown Providence, 50 miles south of Boston and is served by Interstates 95 and 295. Warwick is home to Rhode Island’s largest airport, T.F. Green, and its second-largest hospital, Kent Hospital.
Northpoint Center, Arlington Heights, Ill.
A 276,333 square-foot grocery-anchored retail center at the intersection of W. Rand Rd. and Arlington Heights Rd. in one of Chicago’s largest business communities. With national tenants, Jewel-Osco, Ross, Marshalls, Chase Bank, Five Below and PopShelf, Northpoint Center is situated within a dominant regional retail corridor and is easily accessible to downtown Chicago via I-90 and I-290 and two Metra commuter rail stations. The former Arlington Park racetrack is about 3 miles away and was purchased by the Chicago Bears as a potential home for the team’s new stadium. O’Hare International Airport is about a 15-minute drive.
“The acquisition of Cowesett Corners and Northpoint Center further fortifies our longstanding partnership with Encore, built on a shared foundation of deep sector expertise, leadership experience and steadfast investment discipline,” said AmCap CEO Jake Bisenius. “Of all retail centers in the U.S., only one-third meet AmCap’s stringent investment criteria and of those, we target about 8-12 deals per year. AmCap Management Encore, LLC is a marquee joint venture.”
About Encore Enterprises, Inc.
Founded in 1999, Encore Enterprises, Inc. (Encore) is a vertically integrated, diversified investment firm based in Dallas. Since inception, Encore has completed over 150 commercial real estate transactions valued at $3.7 billion, with $1.8 billion current AUM across 32 states. Focusing on opportunistic and value-add strategies in non-gateway markets throughout the U.S., Encore develops, acquires and manages mixed-use retail centers, multifamily apartment developments, limited and full-service hotels, commercial office buildings and Veterans’ administration medical office centers. Encore also acquires operating companies in the medical, dental and restaurant industries as part of its sustainable investment model. Encore boasts one of the best 25-year track records in the industry, underscoring the firm’s focus on operational stability, prioritization of capital preservation and strength across market cycles. Encore investment offerings are available through Ignite Investments, a wholly owned subsidiary and the exclusive investor relations platform for Encore Enterprises. To learn more, visit https://encore.bz.
About AmCap
AmCap is a vertically integrated private equity real estate firm focused exclusively on grocery-anchored and daily-needs retail centers in high-growth U.S. markets. Backed by a 40+ year track record and over $1 billion in assets under management, AmCap partners with top institutional investors to deliver consistent, risk-adjusted returns through disciplined acquisitions, active asset management, and operational excellence. The firm’s specialized focus on necessity retail provides durable cash flow, downside protection, and performance across market cycles.