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5764 Northwest Highway
SOLD

PMAT Real Estate Investments Acquires Crystal Point Shopping Center In Crystal Lake For $32.4M

5764 Northwest Highway

Retail
317,006 SF
clock iconSold 188 days ago
Joe Girardi
Ben Wineman
Rick Drogosz
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Summary

Sale
ILLINOIS
Retail
317,006 sqft

PMAT Real Estate Investments has acquired Crystal Point Shopping Center, a 317,006-square-foot retail property in Crystal Lake, Illinois. The property, located at 5764 Northwest Highway, was purchased for a total of $32.4 million from DRA Advisors. The center, which is anchored by a grocery store, is currently 87% leased and includes major tenants such as TJ Maxx, Best Buy, and The Fresh Market. The deal was facilitated by the Investment Sales Group of Mid-America Real Estate Corp.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $32,400,000
  • Address: 5764 Northwest Highway, Crystal Lake, Illinois
  • Market: Crystal Lake
  • Square Footage: 317,006
  • Price per Square Foot: $102

Ben Wineman, Joe Girardi, and Rick Drogosz of Mid-America Real Estate Corp represented the buyer, PMAT Real Estate Investments, in the transaction. On the seller's side, David Luski represented DRA Advisors. The deal also involved a loan provided by b1Bank.

NOTE: The Crystal Point Shopping Center acquisition adds to PMAT Real Estate Investments' portfolio and strengthens its presence in the retail market.

Players

  • All

    5

  • Agents

    3

  • Agencies

    1

  • Lenders

    1

Joe Girardi's profile picture
Joe Girardi
Mid-America Real Estate Group-image
Principal
$220.6M Sold
Rick Drogosz's profile picture

Details

Deal Summary
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SOLD
IMAGE: Ben Wineman, Joe Girardi, David Luski, Rick Drogosz & Bob Whelan DATE: 11/15/2023 ADDRESS: 5764 Northwest Highway MARKET: Crystal Lake ASSET TYPE: Retail BUYER: PMAT Real Estate Investments - Bob Whelan SELLER: DRA Advisors - David Luski BROKERS: Ben Wineman, Joe Girardi & Rick Drogosz - Mid-America Real Estate Corp (@MidAmerica_RE) LENDER: b1Bank SALE PRICE: $32,400,000 SF: 317,006 ~ PPSF: $102 NOTE: PMAT Real Estate Investments purchased Crystal Point Shopping Center, a 317,006-square-foot grocery-anchored complex in Crystal Lake, Illinois, for $32.4 million from DRA Advisors. The 87%-leased center includes major tenants like TJ Maxx, Best Buy, and The Fresh Market, with Mid-America Real Estate Corp.'s Investment Sales Group facilitating the deal.

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Address5764 Northwest Highway

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