Marcus & Millichap brokered the sale of a 7-Eleven / Starbucks retail property located in Berwyn, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $5,400,000 at $1,058.82 per square foot.
Adrian Mendoza, first vice president, Austin Weisenbeck, senior vice president and Sean R. Sharko, senior vice president, and investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a developer. The buyer, a private investor in a 1031-exchange who sold an apartment building in New York City, was secured and represented by Anthony D’Ambrosia, associate, Glen D. Kunofsky, executive managing director, and Richard Nardi, associate, and investment specialists in Marcus & Millichap’s Manhattan office.
Located at 7148 W. Ogden Avenue in Berwyn, the 5,100-square-foot retail property is brand new construction and build-to-suit for 7-Eleven and Starbucks using high-quality and aesthetically appealing materials. 7-Eleven has a 15-year lease and Starbucks has a 10-year lease.