Lee & Associates – North San Diego County Completes the $3.4 Million Sale of a Shopping Center in Huntly, Illinois
Huntley, IL—August 3, 2015— Ryan Barr and Ryan Bennett, Principals at Lee & Associates, one of the largest national commercial real estate providers with regional expertise, represented the seller on the sale of a 9,181 square foot shopping center in Huntley Illinois for $3,412,000 or a 7.37% capitalization rate. The Huntley Shops strip center is located at 12030-12090 Princeton Drive in Huntley, Illinois and is comprised of six national and regional tenants on triple-net (NNN) leases which include Dunkin Donuts, H&R Block, and Verizon Wireless. The property is shadow anchored by a Super Walmart and has Walgreens and Chase Bank as neighboring tenants.
Ryan Bennett and Ryan Barr of Lee & Associates – North San Diego County represented the seller, Route 47 & Kreutzer, LLC on the sale. The property was purchased by Chicago based private investor Arrowhead Lodge Inc. who purchased the property to satisfy a 1031 tax deferred exchange. “The property is extremely well located within the trade area and over 80% of the tenant base has been operating at the site for the past 7 years” said Bennett.
Barr & Bennett Net Leased Investment Group, of Lee & Associates-North San Diego County, specialize in the acquisition and disposition of single tenant net leased assets nationwide.
About Lee & AssociatesCelebrating more than 36 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with locations across the nation including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, and Wisconsin. With more than 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn and Twitter.