Chicago, IL (October 14, 2024) – Quantum Real Estate Advisors, Inc. has brokered the sale of a +/-5,236 square foot shopping center in Pontiac, IL. The 100% leased property is occupied by Jimmy John’s, T-Mobile, SmokeZone, and Great Clips and sold for $1,445,000. Dan Waszak, Zack Hilgendorf, and Nick Hilgendorf of Quantum represented the seller in this transaction. The seller, a Midwest-based developer, built the building in 2019. The buyer, a Southeast-based investor, used this transaction as part of the up-leg of a 1031 exchange.
Dan Waszak had the following comments regarding the transaction, “We were able to garner multiple competitive offers in a short amount of marketing time due to the asset’s strong tenant mix and low price-point. This shows the continued resiliency of shopping centers and retail in general. With the current interest rate environment, we have seen a massive uptick in demand for high-quality shopping centers.” Zack Hilgendorf added, “Although Pontiac is a smaller market, the property is situated extremely well, providing the buyer with low-risk and stable cash flow.”
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.
