JLL Capital Markets closed the $2.18 million sale of a new, single-tenant, net-leased retail building occupied by Starbucks in the Chicago suburb of Chicago Ridge, Illinois. JLL marketed the 2,400-square-foot property on behalf of the seller, Glazier Corporation. An undisclosed investor purchased the asset.
The property is occupied by investment-grade tenant Starbucks Corporation, the world’s largest coffee house chain. Completed in 2020, the building is a Starbucks prototype with a drive-through and patio. The property is situated on 9.59 acres at 10259 S. Harlem Avenue in Chicago Ridge, which is about 15 miles southwest of downtown Chicago.
The building is at the highly trafficked intersection of South Harlem Avenue and 103rd Street, which makes it visible to more than 53,000 vehicles per day. The property is also within a trade area that welcomes 6.9 million visitors annually and a dense trade population of more than 800,000.
“Net-leased assets with drive-thrus leased to strong credit remain attractive in the marketplace,” said Alex Sharrin, managing director who led JLL’s net lease capital markets team in representing the seller.
