Marcus & Millichap closed the sale of 3720 E. State St., a self-storage facility and retail center in Rockford, Illinois.
Cameron Bradford and Stacey Gorman of Marcus & Millichap, in association with Steven Weinstock, the firm’s broker of record in Illinois, exclusively marketed the property on behalf of the seller. Gorman, Bradford and Sam Slocum of Marcus & Millichap procured the buyer.
The four-suite property sits on a 4.92-acre lot and consists of 59,133 square feet split between a 40,008-square-foot storage facility and 19,125 square feet of retail space. The property was built in 1980 and renovated in 2020. The facility is occupied by CubeSmart and contains 418 climate-controlled units ranging in sizes from 5-by-10 feet to 10-by-30 feet. Other tenants include Family Dollar and the State of Illinois.
The property is situated along Route 20 in Rockford, the third-largest city in Illinois and Northern Illinois’ primary economic hub outside of the Chicago MSA. It is close to Rockford University, UW Health SwedishAmerican Hospital and the Chicago-Rockford International Airport.
