Chicago, IL (December 4, 2023) – Quantum Real Estate Advisors, Inc. has brokered the sale of a 78,000-square-foot multi-tenant shopping center located at 1320 North Route 59 in Naperville, Illinois. The property sold for $7,100,000. Built in the mid-2000s, the property features institutional-quality construction and attractive aesthetics. At the time of sale, the property was 95% occupied by: Studio 41, Brain Balance, Fancy Free Holidays, and other local and national tenants. The buyer was a private investor based in Illinois. The seller was an investor also based in Illinois. 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 sale of Design Pointe was a tremendous success for both the Buyer and Seller. The Capital Markets remain a challenge, and we had to find a new lending source during Due Diligence. However, the buyer was able to secure very attractive debt in a volatile environment.” Mr. Berlin continued, “I spent two years working with the Seller and their Property Manager on this asset, to increase and stabilize the rent roll. The property still had its fair share of challenges, but through our efforts, we were able to find a buyer that was comfortable with the asset and value-add approach.”
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.