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Chicago & Midwest  + Greater Chicagoland  + Net Lease  | 

Starbucks-Anchored Strip Center Trades in Palos Heights

Marcus & Millichap closed the sale of a Starbucks-anchored strip center, a 5,222-square-foot retail property in Palos Heights, IL. Terms of the sale weren’t disclosed. 

First VP Brian Parmacek in Marcus & Millichap’s Chicago Downtown office marketed the property on behalf of the seller, a private investor.  The buyer, an out-of-state private investor, was also secured and represented by Parmacek.   

Financing was secured on behalf of the buyer by Dean Giannakopoulos, senior managing director, and Frank Montalto, first vice president, Marcus & Millichap Capital Corporation. 

The Starbucks-anchored strip center is located at 7202 W. 119th Pl. in Palos Heights, near the intersection of West College Drive and South Harlem Avenue. The center was 100% occupied at the time of the sale, with all three tenants operating under triple-net leases. 

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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 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).

  • ◦Sale/Acquisition