Marcus & Millichap has brokered the sale of a 35-suite grocery and medical-anchored shopping center in Schaumburg, Illinois, for $14.625 million.
Located at 1170 S. Roselle Road, the 114,476-square-foot shopping center was built in 1988 and sits on 12.81 acres. The property is anchored by KD Market, a well-established Chicagoland grocer that recently signed a 10-year lease extension.
“This deal concluded a decade-long advisory relationship with the seller, culminating in a sale to a Chicago-based private investment group,” said Adrian Mendoza, senior managing director. “With 92 percent of the center’s gross leasable area occupied by local-credit tenants and only one national tenant among the 32, the property’s strong performance and prime positioning made it a compelling opportunity.”
Mendoza, Sean Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, an overseas based family who has owned the property for 32 years.
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