PMAT Companies has closed the $20.5 million acquisition of Wind Point Shopping Center, a 274,282-square-foot, grocery-anchored, open-air retail asset located within the Chicago MSA in Batavia, Ill.
The sales price was not disclosed; however, the seller was KIMCO.
Built in 1999, the 72.5-percent-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, and the weighted average tenure is 22 years. The acquisition also presents value-add opportunities for the new owner, such as leasing the vacancy and developing additional out parcels directly fronting Randall Road at the same intersection as Chick-fil-A and the newly constructed Raising Cane’s, Starbucks and Chipotle.
Situated at 201 N. Randall Rd., the asset is within three miles of 500,000 square feet of  class A retail and has excellent storefront visibility with a 40,000 vehicles per day on
