MILWAUKEE, Wis., Oct. 16, 2024 – 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 Sentry Foods grocery store location in Milwaukee, Wisconsin.
“Although the sellers received strong off-market interest, we were able to increase the property’s value by $100,000 through a competitive marketing process, ultimately closing at 95% of the list price with a 7.94% cap rate,” said Ben Kohl, associate. “By generating multiple qualified offers, we successfully closed the transaction within 50 days of listing.”
Kohl and Mitchell Kiven, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a local family. Todd Lindblom, Broker of Record in Wisconsin, assisted in closing the transaction.
Sentry Foods is positioned on 2.3 acres at 7101 W Lisbon Ave. The 25,154-square-foot store was built in 1960, where the high-performing Sentry has been operating since 2008. There are currently 4.5 years remaining on an absolute-net lease.
