Net Lease N Illinois

Marcus & Millichap arranges $3.2M sale of net-leased property

Marcus & Millichap arranges $3.2M sale of net-leased property,ph1

Marcus & Millichap announced the sale of Kroger, a 47,638-square-foot, net-leased property located in Ottawa, IL, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $3,223,884.

Dominic Sulo and Chad Lieber, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, also a private investor, was secured and represented by Dominic Sulo and Chad Lieber as well.

Kroger is located at 2701 Columbus Street in Ottawa. Strategically placed within close proximity of Interstate 80, this property sits in a high traffic area, seeing more than 18,050 vehicles per day. In addition, this Kroger is located nearby many complementary and nationally recognized brands including Walmart, Cracker Barrel, Anytime Fitness, Subway, Culvers, Dunkin’ Donuts, KFC, Hardee’s, O’Reilly Auto Parts and many more.

Sitting on 3.78 acres of land, this subject property has 35 years of operating history. It has been said that this tenant has a strong commitment to the success and longevity of this location, and has recently undergone major improvements including parking lot and roof upgrades. Additionally, this property features a rare absolute triple-net Kroger lease with a best-in-class lease guarantee by the 23rd largest company in the United States.