Lee & Associates - North San Diego County Negotiates Sale and Purchase of Kohl’s in Illinois
ROUND LAKE BEACH, Ill.—March XX, 2015—Lee & Associates, the largest broker-owned commercial real estate firm in the nation, negotiated the $12,700,000 million sale and purchase of a Kohl’s store, located at 230 East Rollins, Round Lake Beach, Illinois.
Al Apuzzo of Lee & Associates – North San Diego County, represented the buyer, Nipoti, LLC.
According to Apuzzo, the buyer, who purchased the property as part of a 1031 Exchange, plans to hold the 87,000-square-foot property indefinitely. With more than 10 years left on their lease, Kohl’s will remain as the property’s sole tenant.
Ryan Barr and Ryan Bennett, principals of Lee & Associates – North San Diego County and founders of Barr & Bennett Net Leased Investment Group, represented the seller, Cadillac-Sand Realty LLC.
“The seller sold the property to capitalize on its long-term absolute triple-net (NNN) lease and the current competitive net-leased market,” said Barr.
“This was an aggressive cap rate for a fee simple Kohl’s transaction today,” Bennett added.
About Lee & Associates
Celebrating 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, South Carolina, Texas, and Wisconsin. With 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Additional information can be found at http://www.lee-associates.com. You can also follow us on Facebook, LinkedIn and Twitter.