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Marcus & Millichap Facilitates Sale of Chipotle-Leased Property in Normal
Marcus & Millichap completed the sale of a two-suite retail strip property leased to Chipotle and Blaze Pizza in Normal, Illinois. The property sold for $3 million.
“The buyer plans to hold this property as a long-term investment,” said Zack House, senior vice president investments. “Our team was able to leverage local market knowledge, asset expertise and a national platform for this transaction.”
House, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a Delaware limited liability company. Steven Weinstock is Marcus & Millichap’s broker of record in Illinois.
The 5,311-square-foot property is located at 1601 E. College Ave., with visibility to more than 55,000 vehicles per day. Built in 2016 on a 0.83-acre lot, the property is surrounded by national retailers and is located just two miles from Illinois State University.
