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Panera Bread in Joliet Trades in 1031 Exchange
Marcus & Millichap finalized the sale of a 5,077-square-foot Panera Bread in Joliet, IL. The retail property sold for $4,325,000.
Austin Weisenbeck and Sean R. Sharko, SVPs in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a developer. The buyer, a limited liability company, was secured and represented by Karly Iacono, an investment specialist in Marcus & Millichap’s New Jersey office.
Panera Bread is located at 2400 W. Jefferson St. in Joliet, on a hard-corner intersection with over 600 feet of frontage. The listing procured multiple offers and was sold to an out-of-state 1031 exchange buyer.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition