{"id":1004638998,"date":"2023-01-11T08:00:28","date_gmt":"2023-01-11T16:00:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004638998"},"modified":"2023-01-11T08:00:30","modified_gmt":"2023-01-11T16:00:30","slug":"kimco-realty-sells-chicago-area-retail-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kimco-realty-sells-chicago-area-retail-asset\/","title":{"rendered":"Kimco Realty Sells Chicago-Area Retail Asset"},"content":{"rendered":"
\"Wind<\/a>

Wind Point Shopping Center. Image courtesy of JLL Capital Markets<\/p><\/div>\n

PMAT<\/strong> Cos.<\/strong> has made the second acquisition in Chicago’s Randall Road corridor with the purchase of Wind Point Shopping Center, a 274,282-square-foot, grocery-anchored retail asset in Batavia, Ill. JLL <\/strong>brokered the $20.5 million transaction on behalf of the seller, Kimco Realty Corp<\/strong>.<\/p>\n

Completed in 1999, Wind Point is anchored by Aldi and Hobby Lobby. Other tenants at the property include Kohl\u2019s, Office Max, Petland, Chili\u2019s, Mattress Firm, AT&T and Swordfish Sushi, having a weighted average tenure of 22 years. The retail asset was 72.5 percent leased at the time of sale.<\/p>\n

The purchase offers the new owner value-add prospects such as leasing the vacant space and developing additional parcels fronting Randall Road at the same crossroads as Chick-fil-A and the recently opened Raising Cane’s, Starbucks and Chipotle.<\/p>\n

\n

READ ALSO<\/strong>: Why These CRE Sectors Provide Safer Harbors<\/a><\/p>\n

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Situated on approximately 32 acres at 201 N. Randall Road, the open-air shopping center is in an area where daily car traffic reaches 40,000 vehicles. Wind Point Shopping Center serves a population of 75,847 residents within a 5-mile radius. The retail center is also within 3 miles of 500,000 square feet of Class A retail.<\/p>\n

JLL Capital Markets Managing Directors Amy Sands and Clinton Mitchell, together with Director Michael Nieder, led the advisory team representing PMAT. In a prepared statement, Sands said that, in today\u2019s retail market<\/a>, the broadest variety of capital continues to be drawn to shopping centers incorporating a grocery component and offering value-add opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"

A JLL Capital Markets team brokered the transaction. <\/p>\n","protected":false},"author":3030,"featured_media":1004639002,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21783,13,21742,21749],"tags":[32796,34368],"class_list":["post-1004638998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-investment","category-midwest","category-latest","category-retail","tag-jll","tag-kimco-realty-corporation"],"acf":[],"yoast_head":"\nKimco Realty Sells Chicago-Area Retail Asset - CPE<\/title>\n<meta name=\"description\" content=\"PMAT Cos. has purchased Wind Point Shopping Center, a 274,282-square-foot, grocery-anchored retail asset in Batavia, Ill., from Kimco Realty.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/kimco-realty-sells-chicago-area-retail-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kimco Realty Sells Chicago-Area Retail Asset\" \/>\n<meta property=\"og:description\" content=\"PMAT Cos. has purchased Wind Point Shopping Center, a 274,282-square-foot, grocery-anchored retail asset in Batavia, Ill., from Kimco Realty.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/kimco-realty-sells-chicago-area-retail-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-11T16:00:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-11T16:00:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Wind-Point-Shopping-Center.png\" \/>\n\t<meta property=\"og:image:width\" content=\"733\" \/>\n\t<meta property=\"og:image:height\" content=\"549\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kimco-realty-sells-chicago-area-retail-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/kimco-realty-sells-chicago-area-retail-asset\/\",\"name\":\"Kimco Realty Sells Chicago-Area Retail Asset - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kimco-realty-sells-chicago-area-retail-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kimco-realty-sells-chicago-area-retail-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Wind-Point-Shopping-Center.png\",\"datePublished\":\"2023-01-11T16:00:28+00:00\",\"dateModified\":\"2023-01-11T16:00:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1e908d9381f3929d1d57f95e4db8c529\"},\"description\":\"PMAT Cos. has purchased Wind Point Shopping Center, a 274,282-square-foot, grocery-anchored retail asset in Batavia, Ill., from Kimco Realty.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kimco-realty-sells-chicago-area-retail-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/kimco-realty-sells-chicago-area-retail-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kimco-realty-sells-chicago-area-retail-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Wind-Point-Shopping-Center.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Wind-Point-Shopping-Center.png\",\"width\":733,\"height\":549,\"caption\":\"Wind Point Shopping Center. 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