Marcus & Millichap announced the sale of a Dunkin’ Anchored Center, a 6,217-square foot retail property located in Gurnee, Illinois. The asset sold for full price, $1,860,000.
Sean Sharko, senior managing director investments, Austin Weisenbeck, senior managing director investments of Marcus & Millichap’s Chicago Oak Brook office, and Jacob Levy, senior vice president investments, of Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, a San Francisco-based limited liability company. The buyer, a Chicagoland-based limited liability company, was secured and represented by Sharko and Weisenbeck. This property closed at 100 percent of its list price and was purchased by the anchor tenant after going to the market.
Dunkin’ Anchored Center is located at 5414 Grand Avenue in Gurnee, Illinois, and is situated in an entertainment destination within 775 feet from the main entrance to Six Flags Great America. It is also 1.2 miles from Gurnee Mills Mall which receives 10.1 million visits annually. There is a population of 48,663 and an average household income of $129,610 within a three-mile radius. This three-tenant center anchored by Dunkin’/Baskin Robbins is 100% occupied. Dunkin’ has six years remaining on its lease term and all three tenants offer annual rent increases.
