Press Releases
Marcus & Millichap Brokers Close Highest Price-Per-Square-Foot Sale of Ottawa Shopping Center in Five Years
October 21, 2025
OTTAWA, Ill., Oct. 21, 2025 – 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 a 10-suite, two-building, ALDI shadow anchored retail property in Ottawa, Illinois, for $4.4 million.
“This sale closed at 99.44% of list price and achieved the highest price per square foot for a shopping center in Ottawa in the past five years,” said Adrian Mendoza, senior managing director investments. “The buyer recognized the long-term value of the tenant mix and plans to hold and cash-flow the property as a stable, income-generating investment.”
Mendoza, Sean 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 private Chicagoland investment group. Sharko and Weisenbeck, along with Phoebe Klein, also from the firm’s Chicago Oak Brook office, procured the buyer, a private 1031 investor based in New York.
Located at 2610-2744 Columbus St., the 4.08-acre retail property features a lineup of long-term national tenants, including Dollar Tree, Sherwin-Williams and Athletico Physical Therapy, each with more than 20 years of occupancy. Additional tenants include Hibbett Sports and World Finance Corp., with 13 and 17 years of tenancy, respectively. The property is shadow-anchored by an ALDI grocery store that draws over 334,000 annual visitors and includes a half-acre parcel of developable land suited for a single-tenant drive-through.
“This sale closed at 99.44% of list price and achieved the highest price per square foot for a shopping center in Ottawa in the past five years,” said Adrian Mendoza, senior managing director investments. “The buyer recognized the long-term value of the tenant mix and plans to hold and cash-flow the property as a stable, income-generating investment.”
Mendoza, Sean 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 private Chicagoland investment group. Sharko and Weisenbeck, along with Phoebe Klein, also from the firm’s Chicago Oak Brook office, procured the buyer, a private 1031 investor based in New York.
Located at 2610-2744 Columbus St., the 4.08-acre retail property features a lineup of long-term national tenants, including Dollar Tree, Sherwin-Williams and Athletico Physical Therapy, each with more than 20 years of occupancy. Additional tenants include Hibbett Sports and World Finance Corp., with 13 and 17 years of tenancy, respectively. The property is shadow-anchored by an ALDI grocery store that draws over 334,000 annual visitors and includes a half-acre parcel of developable land suited for a single-tenant drive-through.
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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.
