Chicago, IL (January 28th, 2022) – Quantum Real Estate Advisors, Inc. has brokered the sale of a roughly 89,000 square foot shopping center in Rockford, Illinois. The property was 100% leased at the time of sale is anchored by Ross Dress for Less and Best Buy, among other in-line tenancy. Also included in the sale was an outparcel which is primed for future development. The Seller, Core Acquisitions, LLC., a prominent Chicago-based investment and development firm, was represented by Chad Firsel, President of Quantum Real Estate Advisors, Inc. The Buyer is a Dallas-based REIT and was represented by Daniel Waszak, Executive Vice President of Quantum Real Estate Advisors, Inc.
Mr. Firsel had the following comments regarding the transaction, “The Seller was able to successfully execute their business plan during their hold period. By extending leases, re-tenanting certain spaces, and investing capital improvement dollars, he was able to create significant value.” Mr. Waszak added, “Even with all the talk of a ‘retail apocalypse’ or the death of brick-and-mortar retail, this transaction shows the continued demand for this property type.” He continued, “These tenants have strong sales and long-term commitment to the property with recent lease extensions. Additionally, we were able to generate multiple offers, confirming the desirability of well-located, well-leased retail properties.”
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.