JLL Capital Markets has closed the $13.1 million sale of a 47,732-sqaure-foot, triple-net leased Mariano’s located within the Chicago MSA in Northfield, Illinois.
JLL represented the Stockbridge (seller) and Swanson Development Group (buyer) in this transaction.
Mariano’s is a regional supermarket chain with 44 locations throughout Illinois. In 2015, the chain was acquired by retail conglomerate Kroger via Mariano’s parent company Roundy’s. This Mariano’s has been in operation since 2013 and currently operates on a NNN lease structure with multiple renewal options.
Situated at 1822 Willow Road, the property is located within the desirable North Shore region of Chicago’s metropolitan area and is just 19 miles from Downtown Chicago. Within five miles of the property is a population of 234,000, a household income of $195,000 and a buying power of $17.5 billion. The property has exposure to the to 30,400 vehicles per day on Willow Road and sits just off the heavily trafficked I-90.
The JLL Capital Markets team was led by Senior Managing Director Alex Sharrin, Senior Director Michael Nieder, Director Mohsin Mirza and Analysts Charles Shehan and Caity Tirakian.
