Crystal Level Purchasing Heart had a leasing fee of 87 p.c on the time of the sale. Picture courtesy of Mid-America Actual Property Corp.
PMAT Actual Property Investments has bought Crystal Level Purchasing Heart, a 317,006-square-foot grocery-anchored purchasing middle in Crystal Lake, Ailing. DRA Advisors offered the asset for $32.4 million and b1Bank supplied a $20 million acquisition mortgage, in keeping with public information.
Mid-America Actual Property Corp.’s Funding Gross sales Group brokered the deal, with Principals Ben Wineman, Rick Drogosz and Joe Girardi engaged on behalf of the vendor.
The asset was 87 p.c leased on the time of sale. The tenant roster consists of TJ Maxx, Finest Purchase, Ross Costume for Much less, The Recent Market, Ulta, Steinhafels Furnishings and Value Plus World Market. The middle additionally options outlot customers, together with Starbucks, Panera, Potbelly, Jamba Juice, 5 Guys and Helzberg Diamonds, together with a vacant Mattress Bathtub & Past field.
Accomplished in 1974, Crystal Level Purchasing Heart includes 4 buildings at 5764 Northwest Freeway, a route that gives direct entry to downtown Chicago. The 30.6-acre property serves roughly 123,000 people inside a 5-mile radius, with a median family revenue of $134,000.
DRA Advisors just lately offered 4 Flaggs, a 326,084-square-foot grocery-anchored purchasing middle in Niles, Ailing., for $20.5 million. Mid-America Actual Property Corp. brokered the transaction on behalf of the vendor, whereas Nassimi Realty bought the asset.
