Net Lease N Illinois

Net-leased auto service center sells in Rockford

Net-leased auto service center sells in Rockford,ph1

Marcus & Millichap announced the sale of a 3,305-square-foot net-leased Grease Monkey property located in Rockford, Illinois, according to David G. Bradley, regional manager of the firm’s Chicago Downtown office. The asset sold for $550,000.

Brian Parmacek, first vice president investments, and Jake Parmacek, an associate, in Marcus & Millichap’s Chicago Downtown office, exclusively marketed the property on behalf of the Illinois-based seller. The Indiana-based buyer was procured by Jeffery Sorenson, an associate in Marcus & Millichap’s Salt Lake City office.

The property is located at 5409 E. State Street in Rockford on a major retail corridor. Grease Monkey purchased the business in 2017 from Havoline Xpress and signed a new five-year lease. A successful automotive preventative maintenance business has operated at this location for over 25 years.