Connect Media – Multi-Tenant Retail Trades in Belvidere

See the article here. 

Quantum Real Estate Advisors recently brokered the sale of a multi-tenant retail building located at 2274-2298 Gateway Center Dr. in Belvidere, IL. The property sold for $1,923,500. At the time of sale, the property was occupied by Aaron’s Rent, Dotty’s, and Subway.

The buyer was a private real estate investor based in Iowa. The seller was a local private real estate investor. Jason Lenhoff, EVP of Quantum, represented the seller.

“This asset was a highly desirable property, given that it is an outlot to Walmart,” said Lenhoff. “We had over 250 investors review this deal, showing a high level of confidence in multi-tenant brick and mortar locations.”

He continued, “In addition to the Walmart anchor, this property is just off the main highway and is a mile east of the Chrysler plant, which has over 4,000 daytime employees.”