JLL Capital Markets closes $21 million sale of the 274,282-square-foot Wind Point Shopping Center in Batavia, IL

Amy Sands 

 

CHICAGO, IL, Jan. 10, 2023 – JLL Capital Markets announced today that it has closed the $20.5 million sale of Wind Point Shopping Center, a 274,282-square-foot, grocery-anchored, open-air retail asset located within the Chicago MSA in Batavia, Illinois.

 

JLL represented the seller, KIMCO, and PMAT acquired the asset, marking it’s second on the Randall Road corridor in high-income suburban Chicago.

Clinton Mitchell

The JLL Capital Markets Investment Advisory team representing the seller was led by Managing Director Amy Sands and Clinton Mitchell and Director Michael Nieder.

 

“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.”

Michael Nieder

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.

Wind Point Shopping Center,
a 274,282-SF, grocery-anchored,
 open-air retail asset  in Batavia, IL

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 store front visibility with a 40,000 VPD on Randall Road.

 Within five miles of the property is a population of 112,094, a daytime population of 75,847 and an average household income of almost $150,000.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

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CONTACT:

  Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com