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Marcus & Millichap Arranges Sale of ALDI-Shadow Anchored Retail Property
Marcus & Millichap brokered the sale of a 10-suite, two-building, ALDI shadow-anchored retail property in Ottawa, Illinois, for $4.4 million.
“This sale closed at 99.44% of list price and achieved the highest price per square foot for a shopping center in Ottawa in the past five years,” said Adrian Mendoza, senior managing director investments. “The buyer recognized the long-term value of the tenant mix and plans to hold and cash-flow the property as a stable, income-generating investment.”
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, a private Chicagoland investment group. Sharko and Weisenbeck, along with Phoebe Klein, also from the firm’s Chicago Oak Brook office, procured the buyer, a private 1031 investor based in New York.
Located at 2610-2744 Columbus St., the 4.08-acre retail property features a lineup of long-term national tenants, including Dollar Tree, Sherwin-Williams and Athletico Physical Therapy.
