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Chicago & Midwest   /   February 1, 2021

Paul Bubny
By: Paul Bubny

Dual-Tenant Berwyn Retail Trades in 1031 Deal

Marcus & Millichap completed the sale of a 7-Eleven | Starbucks retail property in Berwyn, IL. The asset sold for $5,400,000, or $1,058.82 per square foot.

The Chicago Oak Brook-based team of first VP Adrian Mendoza and SVPs Austin Weisenbeck and Sean R. Sharko marketed the property on behalf of the seller, a developer. The buyer, a private investor in a 1031-exchange who sold an apartment building in New York City, was secured and represented by Anthony D'Ambrosia, associate, Glen D. Kunofsky, executive managing director, and Richard Nardi, associate, in Marcus & Millichap’s Manhattan office.

A build-to-suit for the tenants, the 5,100-square-foot 7-Eleven | Starbucks is located at 7148 W. Ogden Ave. in Berwyn. 7-Eleven has a 15-year lease and Starbucks has a 10-year lease.

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About the Author

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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