Marcus & Millichap has arranged the sale of a net-leased restaurant property occupied by Storming Crab in Rockford, Illinois. The freestanding building totals 5,860 square feet and is located at 6779 E. State St. Storming Crab, a chain of casual restaurants specializing in Cajun-style seafood boils, is the sole occupant of the property.
According to Marcus & Millichap, the offering drew strong attention from investors. Brian Parmacek, managing director of investments and an investment specialist in the firm's Chicago Downtown office, reported that the restaurant's operating performance, its prime location and the limited supply of comparable retail assets in the local market all contributed to robust demand for the asset.
The marketing process generated multiple offers, with several prospective buyers submitting bids above the asking price. Ultimately, the transaction closed with a private investor, identified as MBOGO Properties, LLC, which targeted the asset as a vehicle for long-term cash flow and income generation. The seller was RCJD Canyon Crest, LLC.
Parmacek held the exclusive listing to market the property on behalf of the seller and also procured the buyer, indicating that Marcus & Millichap served in a dual-marketing and buyer-sourcing role for the transaction. The deal underscores ongoing investor interest in single-tenant, net-leased restaurant assets that demonstrate stable performance and are positioned in established retail corridors.
The Storming Crab property is surrounded by a concentration of national retailers, including Target, ALDI, Ulta Beauty, Hobby Lobby, Burlington and PetSmart. The site is also located less than a half-mile from Hard Rock Casino Rockford, placing the restaurant within a broader regional destination that combines big-box retail and entertainment uses. This combination of tenant mix and nearby traffic drivers supports the property's positioning within the Rockford retail landscape.
No pricing or yield metrics were disclosed for the transaction, but the level of competition among bidders and the outcome of multiple offers above asking highlight investor willingness to pay a premium for net-leased, necessity- and experience-oriented retail properties in supply-constrained submarkets.
