Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Valli Fresh Market, a 61,047-square-foot net-leased property located in Hoffman Estates, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $8,000,000.
Adrian Mendoza, first vice president, and Sean R. Sharko and Austin Weisenbeck, 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 local private investor. The Florida-based buyer was represented in a 1031 exchange by a cooperating broker, with financing obtained on behalf of the buyer by Brian J. Stulak, senior managing director, Marcus & Millichap Capital Corporation. The deal went from under contract to close in 42 days with no re-trades after procuring multiple offers from out of state investors.
Valli Fresh Market is located at 850 North Roselle Road in Hoffman Estates, Illinois. Located in a highly distinguished and trafficked office and retail market within the Chicago Metropolitan Statistical Area (MSA), the site sees over 80,000 vehicles per day, and Valli Produce recently signed a 10-year ground lease to remain at the property through 2031.
