SOMERS, Wisconsin, October 16, 2023 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a newly constructed 2,361-square-foot net-leased property located in Somers, Wisconsin. The asset sold for $2,325,000.
Nicholas Kanich, a first vice president of investments and Director of the Net Lease Properties Group in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a development group out of Wisconsin. Todd Lindblom, Wisconsin Broker of Record, assisted in closing this transaction.
Chipotle is located at 3671 Market Lane in Somers, Wisconsin, on an outparcel to a Walmart Supercenter with visibility to over 55,700 vehicles per day. Other tenants in the retail corridor include Aldi, Starbucks, Sam’s Club, CVS, McDonald’s, and numerous others. The brand new 2023 construction features Chipotle’s latest “Chipotlane” prototype design and includes a 400-square-foot patio and single-lane drive-thru wrapping the northeast side of the property.
“This property received numerous offers within the first few weeks of marketing due to the brand new 2023 construction, long-term lease, leading QSR tenant, and unparalleled retail location,” said Kanich. “We identified a direct purchaser based in Minnesota through our efforts who used proceeds from a 1031 exchange to acquire the asset.”
