Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Marcus & Millichap Closes Deal for Net-Leased Wisconsin Chipotle
Marcus & Millichap closed the sale of a newly constructed 2,361-square-foot net-leased property located in Somers, Wisconsin. The asset sold for $2.35 million.
Nicholas Kanich, a first vice president of investments and Director of the Net Lease Properties Group in Marcus & Millichap’s downtown Chicago office, had the exclusive listing to market the property on behalf of the seller, a development group out of Wisconsin. Todd Lindblom, Wisconsin Broker of Record, assisted in closing the transaction.
“This property received numerous offers within the first few weeks of marketing due to the brand new 2023 construction, long-term lease, leading QSR tenant, and unparalleled retail location,” said Kanich. “We identified a direct purchaser based in Minnesota through our efforts who used proceeds from a 1031 exchange to acquire the asset.” The Chipotle property is located at 3671 Market Lane on an outparcel to a Walmart Supercenter with visibility to over 55,700 vehicles daily.
