Marcus & Millichap Arranges Sale of Retail Strip in Aurora

Marcus & Millichap has completed the sale of 5 N. Root St., a six-suite retail strip property located in Aurora, Illinois, for $3.37 million. The 12,684-square-foot strip center is fully occupied by a mix of tenants, including local restaurants, healthcare providers and technology retailers.

“As the buyer conducted due diligence, the deal revealed itself to be materially better than anyone could have anticipated,” said Coult Greenwell, associate. “Unfortunately, this also meant the seller began to feel a strong sense of seller’s remorse. We were able to navigate these stormy waters and push to a successful closing, which, at the end of the day, was gratifying for everyone involved.”

Greenwell and Mitchell Kiven, investment specialists in Marcus & Millichap’s Chicago Downtown office, marketed the property on behalf of the seller, a private investor based in the western suburbs. They also procured the buyer, a private investor who is in the process of growing a portfolio of neighborhood retail centers.