Quantum Real Estate Advisors recently brokered the sale of a multi-tenant retail building located at 2274-2298 Gateway Center Dr. in Belvidere, IL. The property sold for $1,923,500. At the time of sale, the property was occupied by Aaron’s Rent, Dotty’s and Subway.
The buyer was a private real estate investor based in Iowa. The seller was a local private real estate investor. Jason Lenhoff, EVP of Quantum, represented the seller.
“This asset was a highly desirable property, given that it is an outlot to Walmart,” said Lenhoff. “We had over 250 investors review this deal, showing a high level of confidence in multi-tenant brick and mortar locations.”
He continued, “In addition to the Walmart anchor, this property is just off the main highway and is a mile east of the Chrysler plant, which has over 4,000 daytime employees.”
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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).