Retail N Illinois

New construction retail property in Woodstock sells for $4.9 million

New construction retail property in Woodstock sells for 4.9 million,ph1

Marcus & Millichap facilitated the sale of a 10,336-square foot new construction retail property located in Woodstock, Illinois. After multiple offers, the asset sold to a local 1031-exchange buyer at 97 percent of list price for $4,975,000.

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 property, anchored by Starbucks and Aspen Dental, is located at 11501 US-14. All tenants are operating under net-leases and four have 10 percent rental increases every five years.