Marcus & Millichap Inc.
10/25/2021 | Press release | Distributed by Public on 10/25/2021 11:31
Marcus & Millichap Arranges the Sale of a Net-Leased Property In Cicero, Illinois
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.