Downers Park Plaza
Downers Grove (Chicago MSA), IL
Downers Park Plaza is a 265,000 square foot Class A shopping center located in a regional retail corridor in the Downers Grove, IL
The center is anchored by Best Buy, TJ Maxx, Homegoods, Shop & Save, Old Navy, and Party City. PMAT aqcuired this asset in an off-market transaction at 89% occupancy from a national REIT tht is exiting this market, representing a great value-add opportunity for a quality center widely regarded as the dominant center in the submarket.
Downers Park Plaza is located in a strong regional location along the 75th Street retail corridor, the primary shopping destination serving the Downers Grove and neighboring Darien and Woodridge communities, with great visibility at a signalized intersection with traffic on 75th St and Lemont Rd (more than 61,000 VD).
Demographics in the area are strong with over 100,000 people living in a 3 mile radius earning average incomes of over $100,000. In a 5 mile radius there are 231,000 people with average incomes around $112,000.
PMAT was able to acquire this center off market at a significant discount to replacement value from a REIT that is exiting this market. This reset basis allows for maximum flexibility in our efforts to stabilize this asset.
For Downers Park Plaza
Leasing Inquiries, Please Contact:
phone: 202-780-PMAT (7628)