Chicago, IL (May 8th, 2023) – Quantum Real Estate Advisors, Inc. has brokered the sale of a 82,500-square-foot single-tenant NNN Schnucks grocery store located at 2642 Charles Street, Rockford, IL, 61108. Originally built in the 1950s, the property underwent a full rehab and features institutional-quality construction and attractive aesthetics. At the time of sale, the property was 100% leased to Schnucks, a supermarket chain with over 100 store locations. The buyer was a private, institutional investor based in California. The seller was a developer based in California. Dan Waszak, Executive Vice President, and Brett Berlin, Vice President of Quantum Real Estate Advisors, Inc. represented the seller in the transaction.
Mr. Berlin had the following comments regarding the transaction, “The buyer was able to acquire a high-performing single-tenant grocery chain at an attractive yield.” Mr. Berlin continued, “This was a double escrow deal, and the Buyer was able to work diligently with our client in successfully purchasing the asset on a tight timeline.” Mr. Waszak added, “This is yet another example of the resiliency of high-quality retail real estate. Necessity-based retail is still an important part of the net-leased asset class.”
Quantum Real Estate Advisors, Inc. (www.QREAdvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management, and financing.