Popular on eTradeWire
- Color Code Security System, Fintech and Crypto Solutions Launched by Starcave Global 510
- Owner Assisted Yacht Deliveries 433
- The 'Fittest Woman On Earth' Visits Puerto Vallarta 378
- Golf & Luxury When You Visit Villa Premiere Boutique Hotel Romantic Getaway 367
- Emily Bertsch Chosen For Hosted Future Leaders In Travel Retreat Event 360
- Tenon Tours Recognized As A Five-time Honoree Among Inc 2019 5000 Most Successful Companies 246
- New WordPress Plugin Feature: Line Chart Graphing 191
- American Airlines cancellation policy due to weather 172
- Creighton Construction & Development completes 7-Eleven in Miami, begins 7-Elevens in Florida, Texas 172
- Wreath Fineries at the Wineries! 159
Similar on eTradeWire
- Toll Brothers to build new community of townhomes in Wheat Ridge
- Centex Raises the Curtain on Haverhill Farms in Georgia
- Berkshire Hathaway HomeServices Florida Network Realty's Christy Budnick Named as a Woman of Influen
- Midland, TX is the Best City for Real Estate Sales Agents
- Iconic Ocean-Front Home Offers Luxury Florida Living
- Split entry home for sale with an open house this weekend!
- Model Home at Historic Vinings' Woodland Preserve Now Open to the Public
- Intalytics' Dave Huntoon Selected to Instruct at the ICSC John T. Riordan School of Retail Real Estate Professionals in Scottsdale, AZ
- MHP Structural Engineers Wins 2019 EiSE Award
- The Grande at Metropark in Woodbridge sees unprecedented success
Lefko and Asher represented the seller, N3 Real Estate of Southlake, Texas. The buyer, a private investor from Orange County, Calif., was represented by Ronald Shunia of BOSC Realty Advisors in Bloomfield Hills, Mich.
The three-tenant building is located on 1.08 acres at 7310 Walton Street in Rockford at the intersection of E. State Street and Buckley Drive. State Street is the main east/west thoroughfare in Rockford with 33,000 cars per day. The 100-percent occupied property, which was built in 2008, is situated 1/2 mile from Interstate 90, connecting Rockford to Chicago and Madison, Wis.
"Aspen Dental recently renewed its lease demonstrating Aspen's commitment to the site," said Lefko. "The property is well located in a market with strong fundamentals. These characteristics allowed us to obtain a near stabilized value for a 10+-year-old asset with short-term leases."
More on eTradeWire News
- FYZICAL Savannah Therapy and Balance Center Spotlights National Fall Prevention Awareness Week
- The Heartbreak Clinic announce the official release of 'The Ultimate Guide to Letting Sh!t Go
- Lexigo launches Fred—the cloud-based productivity tool for freelance translators
- Barbu Beard Co. Releases Newest Scent Profile - THE SHAMAN - See Film @barbubeardco
- 9:30 am Saturday, October 5th - Blessing of the Animals Celebration at the Church of the Apostles
The property also benefits from the high volume of traffic created by Walmart and is clearly visible at the entrance to the center. Other nearby national retailers include Target, Ashley Home Furniture, Best Buy, Dick's Sporting Goods, Hobby Lobby, Home Depot, HomeGoods, Kohl's, Lowe's, Ross Dress for Less, Texas Roadhouse, and Sam's Club.
Asher notes that there are more than 800,000 people living within 45 miles of Rockford and the city benefits from people commuting throughout the region and stopping in the area. "Rockford is the third largest city in Illinois and the largest city outside the Chicago metro area," Asher continues. "Rockford is ranked as one of the '15 Best Places to Move to in the U.S.' by Reader's Digest (2018)."
"Rockford is located in the burgeoning I-90 growth corridor and is part of the third largest economic corridor in the U.S.," Lefko said.
Approximately 75 percent of all U.S. businesses are located within a 24-hour truck drive. Rockford is accessible to multiple major markets including Chicago (90 miles), Madison, Wis. (60 miles), and Milwaukee (80 miles).
Last month, Lefko and Asher arranged the sale of a two-tenant retail building occupied by a Starbucks with a drive-thru and QDOBA Mexican Eats in Sioux City, Iowa, on behalf of the seller, N3 Real Estate. Hanley Investment Group procured an all-cash, 1031 exchange buyer based in Southern California and obtained a record cap rate for a two-tenant net-leased investment in the Midwest that had approximately 65 percent of the original lease terms remaining for both tenants.
More on eTradeWire News
- New York Outdoor Writers Association (NYSOWA) Returns To Cortland For Its 51st Fall Conference
- Lexy Panterra Teams Up With VOILÀ In New Exotic Pop Single
- Conference Teaches Women Recession-Proof Strategies by Turning Purpose into a Paycheck
- Treasure Coast PGA Business Trade Expo October 2nd
- No Rinse Wafer Processing Adhesive (WPA) For Up To 330ºc With 0% Residual
"West coast investors continue to seek a better return in Midwest markets like Chicagoland's city of Rockford and Sioux City, Iowa for assets leased to national credit tenants," said Lefko. "Markets like Rockford and Sioux City typically feature low unemployment rates and are relatively insulated from big rent declines."
Asher adds, "As the retail investment market continues to transition this year, these sales continue to demonstrate that investors are willing to transact at premium pricing for properties with excellent real estate fundamentals in 'A' locations in markets across the country," Asher noted.
About N3 Real Estate
N3 Real Estate is a fully integrated retail real estate investment and development firm based in Southlake, TX focused on developing restaurant, retail and net lease real estate. Founded in 2004, N3 has acquired and developed single and multi-tenant commercial projects and shopping centers for national, regional and local retailers and restaurants across the United States. Today, N3 owns and manages retail projects for its investors at a value of more than $250 million. See: www.n3realestate.com.
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a retail investment advisory firm with a $6+ billion transaction track record nationwide, who works closely with individual investors, lending institutions, developers, and institutional property owners in every facet of the transaction to ensure that the
Jeff Lefko - 949.585.7682
Bill Asher - 949.585.7684
- Now get 10% discount on the latest Salesforce Training Course
- Perfect Health Mela in October to have Health Modules of Asian countries
- Bangla Bass Ventures into the World of Trap
- The Peace Bell Foundation In Hopewell Junction NY Celebrates Its 10th Anniversary
- New Stadium Blanket Start-Up Debuts on Amazon, Targets Cold Weather Sports,Tailgating & Camping
- For Advertising Wk (9/23-26) Some very Essential Advertising Math that Every Business needs to Know
- Fighting Racism For One And For All, One Shirt at a Time!
- The Behavioral Wellness Center at Girard Celebrates Recovery Month
- Pinellas parents, teachers, principals and students inspired by Pinellas County Council PTA event Keynote Speaker
- "Detectives" Hunt for Dystonia Cure in Garfield Park
- eFactor Network awarded - 'Excellence in Finance - Companies' award at FiNext Conference, Orlando
- Delray Beach Craft Beer Fest Announces A Nightbeer Before Christmas
- Folio Financial awarded the 'Excellence in Finance — Companies' award at FiNext Conference, Orlando
- Old School Square Announces 2019-2020 Season Launch Party, Friday Night Fever
- Puzzle Pieces Marketing growing together with the Boys & Girls Clubs of Greater San Diego
- The Fifth Annual Bra Project Announced for October to Benefit DragonBoat Beaufort
- Noted author delivers message of triumph of the human spirit to students at Bishop McLaughlin Catholic High School
- Palmieri Sees South Florida Residential Construction Becoming More Eco-Friendly
- Achieving Great Customer Service – An Innovative Approach That Really Works!
- AVANTE to Expand its Container Tracking System and Services for Worldwide End to End Cargo Container Security