Business

Retail property sells for $4.6 million

Posted June 21, 2019 1:00 am

OAK BROOK - Commercial real estate firm Marcus & Millichap announced it has sold Bluestone Commons, a 36,025-square foot retail property in New Lenox for $4.6 million, according to Steven D. Weinstock, regional manager of the firm's Chicago Oak Brook office.

Located at 2351-2499 East Joliet Highway, the property is surrounded by newly constructed properties and shadow anchored by Lowe's and Target. At the time of the sale the property was 96 percent occupied by a mix of national franchised and local tenants.

Adrian Mendoza, first vice president investments, Austin Weisenbeck, senior vice president investments, and Sean R. Sharko, senior vice president investments, in Marcus & Millichap's Chicago Oak Brook office, exclusively marketed the property on behalf of the seller and also represented the buyer, a Canadian real estate firm. Dean Giannakopoulos, senior vice president capital markets, with Marcus and Millichap Capital Corporation, provided the long-term fixed, non-recourse acquisition financing.

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