Marcus & Millichap : Arranges the Sale of a Net-Leased Property In Cicero, Illinois
October 25, 2021 at 01:34 pm EDT
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Cicero, Illinois, September 15, 2021 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Thorntons Truck Terminal and Gas Station Ground Lease, a 305,280-square-foot net-leased property located in Cicero, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm's Chicago Oak Brook office. The asset sold for $4,805,000.
Austin Weisenbeck and Sean R. Sharko, senior vice presidents 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 Chicagoland-based private investor, was secured and represented by Weisenbeck, Sharko, and Adrian Mendoza, first vice president and investment specialist in Marcus & Millichap's Chicago Oak Brook office.
Thorntons Truck Terminal and Gas Station Ground Lease is located at 3737 South Cicero Avenue in Cicero, Illinois, less than a mile from Interstate 55. Constructed in 2019 on a rare seven-acre infill site, the property is located within an industrial hub adjacent to multiple truck driving schools and transportation businesses.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.
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Marcus & Millichap Inc. published this content on 25 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2021 17:33:07 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
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