July 22, 2024 – Mark Heidecke of Horvath & Tremblay has successfully completed the sale of a Retail Plaza in Gurnee, Illinois. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,239,000.
The Retail Plaza is located at 5326 Grand Avenue in Gurnee, Illinois. The Property contains a 4,032 square foot retail plaza, 100% leased to a strong tenant roster that includes Subway, Pizza Hut and La Michoacana. The Property sits on a pad site to Northern Lights Crossing (a large shopping center) and is part of an extensive retail trade area surrounding the Gurnee Mills Mall. The Property benefits from multiple points of access and excellent visibility and frontage along Grand Avenue. The Property is fully occupied by an attractive roster of national and regional tenants: Subway, Pizza Hut, and La Michoacana. Subway has been at the Property since 1995 and have executed multiple lease extensions demonstrating their commitment to the site and market. Subway has 3+ years remaining on their lease with one, 5-year option. Pizza Hut has been at this location since 2015 and has 1+ year remaining on its lease with one, 5-year option. La Michoacana has 5+ years remaining on their lease with one 6-year option. The Property is situated along Grand Avenue (IL Route 132), the area’s primary commercial corridor and is positioned in between the Gurnee Mills Mall and Six Flags Great America, the area’s two largest attractions. Located in the heart of the Gurnee’s primary commercial center, the Property is surrounded by numerous businesses and retailers (Sam’s Club, Walmart Supercenter, Home Depot, Target, Mariano’s, Jewel-Osco, and many retailers at the Gurnee Mills Mall) attracting consumers to the area. The Property offers convenient access to Interstate 94 and US Highway 41.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.