Marcus & Millichap, a real estate brokerage firm, recently facilitated the sale of a retail strip property located at 5 N. Root St. in Aurora, Illinois for $3.37 million. The six-suite property spans 12,684 square feet and is fully occupied by various tenants including local restaurants, healthcare providers and technology retailers.
According to Coult Greenwell, an associate at Marcus & Millichap who was involved in the deal: “As we went through the due diligence process with the buyer, it became clear that this deal was even better than expected.” However, this also led to some hesitation from the seller who began experiencing seller’s remorse. Despite these challenges,the team successfully navigated through them and were able to close on a positive note for all parties involved.
Greenwell and Mitchell Kiven from Marcus & Millichap’s Chicago Downtown office represented the seller – a private investor based in western suburbs – during marketing ofthe property while also bringing on boardthe buyer,a private investor lookingto expand their portfolio with neighborhood retail centers.
The news about this successful transaction was first reported by Connect CRE.
