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PMAT has bought Downers Park Plaza, a 124,005-square-foot purchasing middle in Downers Grove, Sick. Broder & Sachse Actual Property bought the asset.
Mid-America Actual Property Corp. brokered the transaction, with Principal Ben Wineman and Vice President Emily Gadomski engaged on behalf of the vendor. On the time of the sale, the retail middle was 94 % leased.
PMAT bought Downers Park Plaza again in 2018 for $25 million, in keeping with CommercialEdge information. Protecting Life Insurance coverage Co. offered the acquisition mortgage, the identical supply reveals.
Store & Save Market anchors the purchasing middle, together with Greenback Tree, Phenix Salon Suites, Tremendous CDA, Quilters Quest, CosmoProf, AAA and Hallmark. The middle is anchored by a various mixture of nationwide retailers, together with TJ Maxx/HomeGoods, Finest Purchase and Outdated Navy.
The 21-acre Downers Park Plaza is at 7241 Lemont Highway, inside DuPage County. The retail middle serves a number of close by suburbs reminiscent of Darien, Westmont and Woodridge. The property is a part of the seventy fifth Avenue retail hall, the place the each day site visitors depend reaches roughly 61,000 automobiles, in keeping with PMAT.
Downers Park Plaza serves round 231,000 people inside a five-mile radius, with the typical earnings of roughly $112,000. Downers Park Plaza is close to Interstate 355, which permits easy accessibility throughout the Chicago metropolitan space.
Within the fourth quarter of final 12 months, PMAT bought a 317,006-square-foot grocery-anchored purchasing middle in Crystal Lake, Sick. Mid-America brokered the transaction.
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