The Chicago-based Colliers Net Lease Investment team, led by Peter Block and Rachel Patten, recently facilitated the sale of two strip centers in the area on behalf of Armco Properties. The properties, located at 19102-19140 88th Ave. in Mokena and 8258-8290 S. Janes Ave. in Woodridge, were sold to a private investor for close to their asking price of $6.8 million.
The first property is a 16,482-square-foot strip mall with food and service tenants that has been fully leased since its development in 2003. The second property is situated near the I-355 and 83rd St intersection and features an anchor food mart along with other service-oriented tenants who have long-term leases at below-market rents.
This marks Colliers’ third successful transaction for Armco this year alone; earlier this year they represented them in the sale of Maple Plaza in Downers Grove for $5.8 million to another private investor.
