Press Releases
Marcus & Millichap Facilitates $3 Million Sale of Chipotle- and Blaze Pizza-Leased Property in Normal, Illinois
December 18, 2024
NORMAL, Ill., Dec. 17, 2024 – 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 two-suite retail strip property leased to Chipotle and Blaze Pizza in Normal, Illinois. The property sold for $3 million.
“The buyer plans to hold this property as a long-term investment,” said Zack House, senior vice president investments. “Our team was able to leverage local market knowledge, asset expertise and a national platform for this transaction.”
House, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a Delaware limited liability company. Steven Weinstock is Marcus & Millichap’s broker of record in Illinois.
The 5,311-square-foot property is located at 1601 E. College Ave., with visibility to more than 55,000 vehicles per day. Built in 2016 on a 0.83-acre lot, the property is surrounded by national retailers and is located just two miles from Illinois State University.
“The buyer plans to hold this property as a long-term investment,” said Zack House, senior vice president investments. “Our team was able to leverage local market knowledge, asset expertise and a national platform for this transaction.”
House, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a Delaware limited liability company. Steven Weinstock is Marcus & Millichap’s broker of record in Illinois.
The 5,311-square-foot property is located at 1601 E. College Ave., with visibility to more than 55,000 vehicles per day. Built in 2016 on a 0.83-acre lot, the property is surrounded by national retailers and is located just two miles from Illinois State University.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
