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Marcus & Millichap Arranges The Sale Of A 19,150-Square Foot Net-Leased Property

October 07, 2021

VERNON HILLS, IL, October 7, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Staples, a 19,150-square foot net-leased property located in Vernon Hills, IL, according to Joe Powers, regional manager of the firm’s Chicago Downtown office. The asset sold for $3,225,000.

The buyer, a limited liability company, was secured and represented by Nicholas Kanich, a First Vice President of Investments in the Net Lease Property Group in Marcus & Millichap’s Chicago Downtown office. Kanich represented the purchaser in this transaction after the buyer previously pursued another Staples asset that Kanich closed in Metro Chicago.

Staples is located at 1600 N. Milwaukee Ave. in Vernon Hills, IL. Built in 2008, this freestanding property sits on a 1.93-acre outlot to a Lowe’s-Anchored Shopping Center with considerable visibility from Milwaukee Avenue.

 

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

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