Chicago & Midwest + North Side | August 23, 2023

JLL Closes Sale on Triple-Net-Leased Grocery Store for $13.1M

JLL Capital Markets has closed a $13.1 million sale of a 47,732-square-foot, triple-net leased Mariano’s located within the Chicago MSA in Northfield, Illinois. JLL represented the seller Stockbridge and Swanson Development Group as the buyer in the transaction.

The JLL Capital Markets team was led by Senior Managing Director Alex Sharrin, Senior Director Michael Nieder, Director Mohsin Mirza, and Analysts Charles Shehan and Caity Tirakian.

Mariano’s is a regional supermarket chain with 44 locations throughout Illinois. This Mariano’s has been in operation since 2013 and currently operates on an NNN lease structure with multiple renewal options.

Situated at 1822 Willow Road, the property is located in the North Shore region of Chicago’s metropolitan area and is just 19 miles from downtown. “The short-term Mariano’s in Northfield will provide future ownership potential upside in rents, underpinned by quality North Shore Chicago real estate and a fungible box with ample parking,” said Sharrin.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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