Quantum Real Estate Advisors Inc. has brokered the sale of a 3,800-square-foot Fifth Third Bank located in Carpentersville.
The property sold to a cash buyer from Southern California. There were roughly 13 years remaining on an initial 20-year ground lease. Executive Vice President Jordan Kaufman and Senior Vice President Daniel Waszak of Quantum Real Estate Advisors represented the seller, a Chicago-based investor.
“This sale represents the continued demand for core single-tenant net-leased assets,” Waszak said. “Within a very short time of marketing we were able to identify an all cash buyer at 99 percent of list price. In addition, we were able to procure multiple backup offers some of which were above our initial asking price.”
“Through the sale of the Fifth Third and the pending sale of the other outlot to the shopping center we are one step closer to carrying out the overall strategy that was implemented for the client.” Kaufman said. “While this sale had its challenges, through our hands-on facilitation, we were able to quickly find resolutions and ultimately close the deal.”
