Marcus & Millichap announced the sale leaseback of a 5,784-square-foot net-leased Shell fuel station & convenience store located in Marshall, according to Joe Powers, regional manager of the firm’s Chicago Downtown office. The asset sold for $2,790,698.
Nicholas Kanich, first vice president of investments in the Net Lease Group at Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, an Indiana-based investor and experienced fuel station operator.
This Shell is located just southeast of the highly trafficked Interstate 70 and Route One interchange in Marshall’s main retail corridor, neighbored by a Walmart Supercenter, McDonald’s, Wendy’s, and Subway, among other national retail tenants. The property underwent significant renovation in 2021, and also features a drive-through on the south end of the building, utilized by subtenant Arby’s.
“The property’s long-term absolute net lease, prime highway retail location, and stability of cash flow made the asset extremely attractive to investors looking for a dependable investment,” Kanich said. “The property received numerous competitive offers, and eventually sold to a California-based investor after a smooth escrow process.”
