Schnucks Supermarket in Rockford Trades to California Investor – Robert Khodadadian
Quantum Real Estate Advisors brokered the sale of an 82,500-square-foot single-tenant NNN Schnucks grocery store located at 2642 Charles St., Rockford, IL, for an undisclosed sum. EVP Dan Waszak and VP Brett Berlin represented the seller, a California-based developer. The buyer was a private institutional investor, also based in California.
“The buyer was able to acquire a high performing single tenant grocery chain at an attractive yield,” said Berlin. “This was a double escrow deal, and the buyer was able to work diligently with our client in successfully purchasing the asset on a tight timeline.”
Added Waszak, “This is yet another example of the resiliency of high-quality retail real estate. Necessity-based retail is still an important part of the net-leased asset class.”
Originally built in the 1950s, the property underwent a full rehab. The tenant is a St. Louis-based grocery chain with more than 100 locations across four states.
The post Schnucks Supermarket in Rockford Trades to California Investor appeared first on Connect CRE.
Quantum Real Estate Advisors brokered the sale of an 82,500-square-foot single-tenant NNN Schnucks grocery store located at 2642 Charles St., Rockford, IL, for an undisclosed sum. EVP Dan Waszak and VP Brett Berlin represented the seller, a California-based developer. The buyer was a private institutional investor, also based in California. “The buyer was able to …
The post Schnucks Supermarket in Rockford Trades to California Investor appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate