Huntley, IL—July 30, 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.