Marcus & Millichap has completed the sale of a three-building, 11-tenant retail portfolio in Mount Prospect, Illinois. The properties sold for a combined $12.45 million. The firm’s capital markets subsidiary, Marcus & Millichap Capital Corporation (MMCC), arranged $6.4 million in acquisition financing.
Rowlett and Matthew Gordon, investment specialists in the Milwaukee office of Marcus & Millichap, found the buyer, Lula Holdings, a Wisconsin limited liability company. Maggie Holmes of Northmarq represented the seller, RREF III-P Randhurst Village, a Delaware limited liability company. Steven Weinstock, an Illinois broker of record, helped close the transaction. Michael Hughes, first vice president in the Milwaukee office of Marcus & Millichap Capital Corporation, secured financing from U.S. Bank.
The three lots are strategically located outside of Randhurst Village, a shopping center anchored by Costco and featuring nearly 40 national and regional stores and restaurants. The first lot, at 102 E. Kensington Road, is home to Chipotle, Five Guys, Jersey Mike’s, Sports Clips and T-Mobile. The second, at 1065 Elmhurst Road, includes GNC, Panera Bread and Nothing Bundt Cakes. The third, at 1027 Randhurst Village, is home to Hangry Joe’s, MOD Pizza and Poke Bros.
