Marcus & Millichap finalized the sale of a three-building, 11-tenant retail portfolio located in Mount Prospect, Illinois. The properties collectively sold for $12.45 million. The firm’s capital markets subsidiary, Marcus & Millichap Capital Corporation (MMCC), arranged $6.4 million in acquisition financing.
Rowlett and Matthew Gordon, investment specialists in Marcus & Millichap’s Milwaukee office, procured the buyer, Lula Holdings, a Wisconsin limited liability partnership. Maggie Holmes of Northmarq represented the seller, RREF III-P Randhurst Village, a Delaware limited liability company. Steven Weinstock, Broker of Record in Illinois, assisted in closing the transaction. Michael Hughes, first vice president in Marcus & Millichap Capital Corporation’s Milwaukee office, secured the financing with US Bank.
The three properties are strategically situated outparcels to Randhurst Village, a Costco-anchored shopping mall featuring nearly 40 national and regional stores and restaurants. The first property, at 102 E. Kensington Road, hosts Chipotle, Five Guys, Jersey Mike’s, Sports Clips and T-Mobile. The second, at 1065 Elmhurst Road, includes GNC, Panera Bread and Nothing Bundt Cakes. The third, located at 1027 Randhurst Village, features Hangry Joe’s, MOD Pizza and Poke Bros…