JLL Capital Markets closed the $20.5-million sale of Wind Point Shopping Center, a 274,282-square-foot, grocery-anchored, open-air retail asset located in Batavia, IL.JLL represented the seller, Kimco. PMAT acquired the asset, marking its second on the Randall Road corridor in high-income suburban Chicago.
The JLL Capital Markets Investment Advisory team representing the seller was led by managing directors Amy Sands and Clinton Mitchell and director Michael Nieder.
Built in 1999, the 72.5%-occupied community center is anchored by Aldi and Hobby Lobby. Additional tenants include Kohl’s, Office Max, Petland, Chili’s, Mattress Firm, AT&T and Swordfish Sushi..
“Shopping centers anchored by a grocery component combined with true value-add continue to attract the widest range of capital in today’s market,” said Sands. “Wind Point had the added attraction of being located in the same city as Aldi’s corporate headquarters, furthering the appeal and commitment from the grocer.”