{"id":1004705676,"date":"2024-03-08T06:49:21","date_gmt":"2024-03-08T14:49:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004705676"},"modified":"2024-10-23T01:32:37","modified_gmt":"2024-10-23T09:32:37","slug":"pmat-sells-chicago-area-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pmat-sells-chicago-area-shopping-center\/","title":{"rendered":"PMAT Sells Chicago-Area Shopping Center"},"content":{"rendered":"\n<p>PMAT has sold Downers Park Plaza, a 124,005-square-foot shopping center in Downers Grove, Ill. Broder &amp; Sachse Real Estate purchased the asset.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2c84275ee19&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004705693\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/pmat-sells-chicago-area-shopping-center\/downers-park-plaza\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/Downers-Park-Plaza-e1709900414133.png\" data-orig-size=\"557,418\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Downers Park Plaza\" data-image-description=\"&lt;p&gt;Downers Park Plaza came online in 1979. Image courtesy of Mid-America Real Estate Corp.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Downers Park Plaza came online in 1979. Image courtesy of Mid-America Real Estate Corp.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/Downers-Park-Plaza-e1709900414133.png?w=557\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"225\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/Downers-Park-Plaza-e1709900414133.png?w=300\" alt=\"Downers Park Plaza\" class=\"wp-image-1004705693\" style=\"width:302px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/Downers-Park-Plaza-e1709900414133.png 557w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/Downers-Park-Plaza-e1709900414133.png?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Downers Park Plaza came online in 1979. <em>Image courtesy of Mid-America Real Estate Corp<\/em>.<\/figcaption><\/figure><\/div>\n\n\n<p>Mid-America Real Estate Corp. brokered the transaction, with Principal Ben Wineman and Vice President Emily Gadomski working on behalf of the seller. At the time of the sale, the <a href=\"https:\/\/www.commercialsearch.com\/news\/retails-return-is-the-sector-2024s-sleeper-hit\/\">retail center<\/a> was 94 percent leased.<\/p>\n\n\n\n<p>PMAT purchased Downers Park Plaza back in 2018 for $25 million, according to CommercialEdge data. Protective Life Insurance Co. provided the acquisition loan, the same source shows.<\/p>\n\n\n\n<p>Shop &amp; Save Market anchors the shopping center, along with Dollar Tree, Phenix Salon Suites, Super CDA, Quilters Quest, CosmoProf, AAA and Hallmark. TJ Maxx\/HomeGoods, Best Buy and Old Navy, among others, shadow-anchor the property.\u00a0<\/p>\n\n\n\n<p>The 21-acre Downers Park Plaza is at 7241 Lemont Road, within DuPage County. The retail center serves several nearby suburbs such as Darien, Westmont and Woodridge. The property is part of the 75th Street retail corridor, where the daily traffic count reaches approximately 61,000 vehicles, according to PMAT. <\/p>\n\n\n\n<p>Downers Park Plaza serves around 231,000 individuals within a five-mile radius, with the average income of approximately $112,000. Downers Park Plaza is near Interstate 355, which allows easy access across the Chicago metropolitan area.<\/p>\n\n\n\n<p>In the fourth quarter of last year, PMAT purchased a <a href=\"https:\/\/www.commercialsearch.com\/news\/pmat-buys-chicago-area-shopping-center-for-32m\/\">317,006-square-foot grocery-anchored<\/a> shopping center in Crystal Lake, Ill. Mid-America brokered the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 124,005-square-foot property previously traded for $25 million.<\/p>\n","protected":false},"author":3014,"featured_media":1004705693,"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":[36625,36646],"class_list":["post-1004705676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-investment","category-midwest","category-latest","category-retail","tag-broder-sachse-real-estate-services","tag-mid-america-real-estate-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PMAT Sells Chicago-Area Shopping Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"PMAT has sold Downers Park Plaza, a 124,005-square-foot shopping center in Downers Grove, Ill., a western suburb of Chicago.\" \/>\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\/pmat-sells-chicago-area-shopping-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PMAT Sells Chicago-Area Shopping Center\" \/>\n<meta property=\"og:description\" content=\"PMAT has sold Downers Park Plaza, a 124,005-square-foot shopping center in Downers Grove, Ill., a western suburb of Chicago.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pmat-sells-chicago-area-shopping-center\/\" \/>\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=\"2024-03-08T14:49:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-23T09:32:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/Downers-Park-Plaza-e1709900414133.png\" \/>\n\t<meta property=\"og:image:width\" content=\"557\" \/>\n\t<meta property=\"og:image:height\" content=\"418\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\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\/pmat-sells-chicago-area-shopping-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/pmat-sells-chicago-area-shopping-center\/\",\"name\":\"PMAT Sells Chicago-Area Shopping Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pmat-sells-chicago-area-shopping-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pmat-sells-chicago-area-shopping-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/Downers-Park-Plaza-e1709900414133.png\",\"datePublished\":\"2024-03-08T14:49:21+00:00\",\"dateModified\":\"2024-10-23T09:32:37+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"PMAT has sold Downers Park Plaza, a 124,005-square-foot shopping center in Downers Grove, Ill., a western suburb of Chicago.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pmat-sells-chicago-area-shopping-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/pmat-sells-chicago-area-shopping-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pmat-sells-chicago-area-shopping-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/Downers-Park-Plaza-e1709900414133.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/Downers-Park-Plaza-e1709900414133.png\",\"width\":557,\"height\":418,\"caption\":\"Downers Park Plaza came online in 1979. 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