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Cap rates on single-tenant retail and industrial properties compressed in Q4 2021.

Sharko|Weisenbeck Team Finalizes 1031 Deal in West Englewood

Marcus & Millichap’s Sharko|Weisenbeck Team arranged the sale of an Advance Auto Parts store in West Englewood on Chicago’s Southwest side. The property sold for $1,800,000.

SVPs Austin Weisenbeck and Sean R. Sharko in Marcus & Millichap’s Chicago Oak Brook office marketed the property on behalf of the seller, a developer.  

The buyer, a private investor, was secured and represented by Fabio Sangiorgi and Rachna Gandhi of Marcus & Millichap’s Palo Alto office, CA. Financing was obtained by David Campbell, SVP capital markets, Marcus & Millichap Capital Corporation.

Advance Auto Parts is located at 6714 S. Western Ave. The property was sold to an out-of-state 1031 buyer and closed at 98% of the list price. The corporately guaranteed tenant recently executed a 10-year lease extension with a corporate guarantee.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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).

  • ◦Sale/Acquisition
  • ◦Lease
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