Quantum Brokers Deal for Multi-Tenant Hainesville Retail
Quantum Real Estate Advisors has brokered the sale of a multi-tenant building at 60-80 E. Belvidere Rd. in Hainesville, IL. The property sold for $2,100,000.
At the time of sale, the property was occupied by Starbucks, Chicago’s Red Hots, Luxe Salon, and Lakemoor Dental. Buyer and seller were both private real estate investors.
EVP Jason Lenhoff represented the seller. “Starbucks and Lakemoor Dental both signed brand new 10-year leases, showing a long-term commitment to the site, which made this transaction highly desirable for the buyer,’ he said.
Lenhoff continued, “The property has excellent visibility and traffic volumes, along with cross access to the adjacent Walgreens. Hainesville is an established community that continues to grow and expand. In addition to the value add of the shopping center, there is a 0.75-acre pad that is primed for development. All these factors aided the buyer’s decision to close this transaction.”
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).