Retail N Illinois

Wheaton shopping center sells for $5 million

Wheaton shopping center sells for 5 million,ph1

Marcus & Millichap brokered the sale of a 15-year Dunkin’ relocation anchored shopping center, a 8,808-square foot retail property located in Wheaton, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $5,075,000.

Austin Weisenbeck and Sean R. Sharko, senior vice presidents and investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a developer. The buyer, a limited liability company, was secured and represented by Weisenbeck and Sharko.

The 15-year Dunkin’ relocation anchored shopping center is located at 2040 S. Naperville Road, strategically located in a regional trade area. The property is a new construction, four-tenant center that is 100 percent occupied. The property went from contract to close in 71 days and sold for 96.7 percent of the list price to an institutional, out-of-state buyer.