Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Fresenius Anchored Add-Value Retail Center, a 31,332 square-foot retail property located in Glendale Heights, IL. The asset sold for $4,354,850.
Sean R. Sharko, Valerie Cook 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 limited liability company. The buyer, a limited liability company, was also secured and represented by Sean R. Sharko and Austin Weisenbeck.
Fresenius Medical Center, the anchor, occupies 39.26 percent of the center. Fresenius is operating under a corporately guaranteed net-lease which carries annual rent increases. Fresenius relocated to this center from an inferior center on the other side of Glendale Heights. Plato’s Closet, the second major tenant, occupies 17.94 percent of the center. Plato’s Closet has nine years remaining on their net-lease. Plato’s Closet is guaranteed by a large, local franchisee owner. Fresenius Anchored Retail Center sold in 15 days at 94.5 percent of its original list price. The Hilltop Shopping Center is comprised of eight spaces; four of which are occupied.
