Marcus & Millichap Closes Two-Tenant Retail Sale in Lockport
Marcus & Millichap recently closed the sale of Arbys & Bank of America Grocery Shadow Anchor, a 3,670-square foot, two-tenant retail property in Lockport, IL. The asset sold for $1,650,000.
SVPs Austin Weisenbeck and Sean R. Sharko, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a limited liability company. The buyer, a limited liability company affiliated with one of the tenants, exercised a first right of refusal after Weisenbeck and Sharko produced a third-party offer.
Arby’s & Bank of America Grocery Shadow Anchor is located at 16545 W. 159th St. in Lockport. The property is an outlot of a Jewel-Osco grocery store. The tenants are a single-unit Arby’s franchisee and a Bank of America teller-less facility.
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