Marcus & Millichap brokered the sale of Arbys & Bank of America Grocery Shadow Anchor, a 3,670-square-foot retail property located in Lockport, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $1,650,000.
Austin Weisenbeck, senior vice president, and Sean R. Sharko, senior vice president 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 limited liability company. The buyer, a limited liability company affiliated with one of the tenants, exercised a first right of refusal after Weisenbeck and Sharko produced a third-party offer.
Located at 16545 W. 159th Street in Lockport, the property is an outlot of a Jewel-Osco grocery store. The tenants are a single-unit Arby’s franchisee and a Bank of America teller-less facility.
