Wind Level Purchasing Heart. Picture courtesy of JLL Capital Markets
PMAT Cos. has made the second acquisition in Chicago’s Randall Street hall with the acquisition of Wind Level Purchasing Heart, a 274,282-square-foot, grocery-anchored retail asset in Batavia, In poor health. JLL brokered the $20.5 million transaction on behalf of the vendor, Kimco Realty Corp.
Accomplished in 1999, Wind Level is anchored by Aldi and Passion Foyer. Different tenants on the property embrace Kohl’s, Workplace Max, Petland, Chili’s, Mattress Agency, AT&T and Swordfish Sushi, having a weighted common tenure of twenty-two years. The retail asset was 72.5 p.c leased on the time of sale.
The acquisition affords the brand new proprietor value-add prospects similar to leasing the vacant area and growing further parcels fronting Randall Street on the identical crossroads as Chick-fil-A and the just lately opened Elevating Cane’s, Starbucks and Chipotle.
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Located on roughly 32 acres at 201 N. Randall Street, the open-air buying heart is in an space the place day by day automobile site visitors reaches 40,000 automobiles. Wind Level Purchasing Heart serves a inhabitants of 75,847 residents inside a 5-mile radius. The retail heart can also be inside 3 miles of 500,000 sq. ft of Class A retail.
JLL Capital Markets Managing Administrators Amy Sands and Clinton Mitchell, along with Director Michael Nieder, led the advisory staff representing PMAT. In a ready assertion, Sands stated that, in immediately’s retail market, the broadest number of capital continues to be drawn to buying facilities incorporating a grocery element and providing value-add alternatives.
