Business

Huntley commercial property sells for $3 million

Posted February 01, 2017 12:00 am

OAKBROOK TERRACE - Marcus & Millichap recently sold the 7-Eleven Ground Lease and Shops, a 10,318-square foot retail property located in Huntley for approximately $3.4 million.

Steven D. Weinstock, first vice president/regional manager/managing broker of the firm's Oak Brook office, said the property sold for 98 percent of the list price at $3,485 million.

Austin Weisenbeck, Sean R. Sharko and Adrian Mendoza, investment specialists in Marcus & Millichap's Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a developer. The listing team procured multiple competing offers and were able to overcome several objections, including short lease terms. The buyer, a limited liability company, was also procured by Sean R. Sharko, Austin Weisenbeck and Adrian Mendoza, investment specialists in Marcus & Millichap's Chicago Oak Brook office.

7-Eleven Ground Lease and Shops is located at 12376 - 12400 Princeton Drive in Huntley. The subject property features 12 fuel pumps in addition to a 3,000-square foot convenience store. The fuel pumps require a substantial investment from the tenant and 7-Eleven only builds out this infrastructure in high traffic count locations.

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