Marcus & Millichap Real Estate Investment Services recently sold a single-tenant net-leased corporate Texas Roadhouse in Tinley Park, Ill. The asset sold for more than $3.6 million.
Jordan Klink and Kahlil Barnard, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, an Indiana-based limited liability company. The buyer, a Connecticut-based limited liability company conducting a 1031 exchange, was secured and represented by Bruce Bentley III and Mike Buckner, investment specialists in Marcus & Millichap’s Austin office. John Przybyla, broker, assisted in closing this transaction.
“Investor demand for long-term single-tenant net-leased properties is still exceeding available marketplace supply given the high demand for yield today and the predictability of uninterrupted income streams backed by strong companies that these assets produce,” said Klink in a written statement. “This property had offer activity within the first 24 hours and closed all cash at the asking price.”
