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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.
- ◦Sale/Acquisition


