Adelphia Properties has arranged the sale of a single-tenant property net leased to Merlin that sold in an all cash transaction. The sales price was not disclosed.
The 3,551 square-foot building is located at 1711 Ogden Ave in Downers Grove, IL. There are approximately three years remaining on the lease term with renewal options and escalations. Adelphia Properties’ George Spirrison, CCIM & Simeon Spirrison, CCIM represented the seller, a local private investor. The purchaser was an all cash non-1031 private investor.
