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

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.