JLL Closes $13.1M Sale on Triple-Net-Leased Grocery Store

JLL Capital Markets recently closed a $13.1 million sale of a 47,732-square-foot, triple-net leased Mariano’s grocery store located in Northfield, Illinois within the Chicago MSA. Representing the seller Stockbridge and Swanson Development Group as buyer in the transaction was JLL’s Senior Managing Director Alex Sharrin along with Senior Director Michael Nieder, Director Mohsin Mirza and Analysts Charles Shehan and Caity Tirakian.
Mariano’s is a regional supermarket chain with 44 locations throughout Illinois that has been operating since 2013 on an NNN lease structure featuring multiple renewal options. Situated at 1822 Willow Road in North Shore region of Chicago metropolitan area just 19 miles from downtown; Sharrin noted “the short-term Mariano’s will provide future ownership potential upside in rents underpinned by quality real estate and ample parking.”