Business

Marcus and Millichap sells Gurnee center for $9.3 million

Posted March 08, 2017 12:00 am

GURNEE — Marcus & Millichap said it has sold Super Regional Retail Center, a 14,779-square foot retail property located in Gurnee, for $9.3 million.

Sean R. Sharko and Austin Weisenbeck, investment specialists in Marcus & Millichap's Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a developer. After procuring multiple offers, they also secured and represented the buyer, an out-of-state 1031-investor.

Super Regional Retail Center is located at 6447 Grand Ave. The property's location benefits as the midpoint between Milwaukee and Chicago. It is also a popular destination area for Gurnee Mills Mall, Six Flags and Key Lime Cove Water Resort. Together, these attractions draw 26 million visitors annually.

The area has nearly 45,000 people living within three miles of the property, making an average annual salary over $116,000. The city is experiencing a wave of growth and prosperity; Gurnee is considered the commercial center of the northland suburban region.

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