Marcus & Millichap announced the sale of FJN Shopping Center, a 27,811 square-foot retail property located in Addison, IL. The asset sold for $2,125,000.
Sean R. Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, an individual/personal trust, was secured and represented by Brian Parmacek and Brice Mendes, investment specialists in Marcus & Millichap’s Chicago O’Hare office.
FJN Shopping Center was built in 1985 and is currently devised into 26 units. The center is currently 80 percent occupied with many locally known tenants including Casino’s Pizza, Addison Pub, Here Comes the Bride bridal boutique, Granny’s Restaurant and Staff Force, several of which have a long rental history in the center. Each tenant operates under net-leases, reimbursing for their pro-rata share of taxes, insurance and common area maintenance.