Retail N Illinois

Marcus & Millichap arranges $2.9 million sale of multi-tenant retail property

Marcus & Millichap arranges 2.9 million sale of multi-tenant retail property,ph1

Marcus & Millichap facilitated the sale of Sauk Trail Plaza, a 30,284-square-foot retail property located in Richton Park, Illinois. After multiple offers, the asset sold to a New York based 1031 exchange buyer for $2,945,500. Sauk Trail Plaza is located at 3700-3740 West Sauk Trail, anchored by a corporately guaranteed Save-A-Lot.

Adrian Mendoza, first vice president investments, Austin Weisenbeck, senior vice president investments, and Sean R. Sharko, senior vice president investments, in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller. The new investor assumed the current loan with eight of the original 10 years remaining at a 4.3 percent interest rate.