Schnucks Supermarket in Rockford Trades to California Investor
Quantum Real Estate Advisors brokered the sale of an 82,500-square-foot single-tenant NNN Schnucks grocery store located at 2642 Charles St., Rockford, IL, for an undisclosed sum. EVP Dan Waszak and VP Brett Berlin represented the seller, a California-based developer. The buyer was a private institutional investor, also based in California.
“The buyer was able to acquire a high performing single tenant grocery chain at an attractive yield,” said Berlin. “This was a double escrow deal, and the buyer was able to work diligently with our client in successfully purchasing the asset on a tight timeline.”
Added Waszak, “This is yet another example of the resiliency of high-quality retail real estate. Necessity-based retail is still an important part of the net-leased asset class.”
Originally built in the 1950s, the property underwent a full rehab. The tenant is a St. Louis-based grocery chain with more than 100 locations across four states.
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