January 8, 2024 – Mark Heidecke and Uriel Escobar of Horvath & Tremblay have successfully completed the sale of Route 59 Plaza in Naperville, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,125,000.
Route 59 Plaza is located at 1620 Pebblewood Lane in Naperville, Illinois. The plaza was constructed in 1991 and contains 21,763 square feet of gross leasable area on a 1.30-acre parcel. The Property has eighteen (18) suites and is 73.85% leased to a complimentary mix of local tenants that serve the needs of the area residents. The Property offers upside through the lease up of the existing vacant space, and by bringing current tenants to market rates upon their lease renewals. The Property has six vacant suites with a total of 5,692 square feet. The spaces offer a variety of sizes allowing for a broader range of prospective tenants. The highly visible Property is strategically located adjacent to the intersection of Diehl Road and IL Route 59, two of the region’s primary commercial corridors. The Property enjoys outstanding visibility and frontage along Pebblewood Lane (rear of the Property) and IL Route 59 and benefits from prominent signage and two points of access. The Property is surrounded by significant commercial clusters and high-density residential neighborhoods, both providing an instant customer base for the tenants in the plaza. The Property is 0.25-miles from Interstate 88 and approximately 1.7-miles from the Route 59 METRA Station. Naperville is located in DuPage County, approximately 28 miles west of Chicago.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.