Chicago, IL (May 1st, 2020) – Quantum Real Estate Advisors, Inc. has brokered the sale of a single-tenant CVS located at 9551 171st in Tinley Park, IL. The property sold for just under $6,000,000. The Seller, a Dallas based investment group, was able to negotiate a new 20-year Lease with CVS. The buyer, a private investor from New York City, purchased this as part of a 1031 exchange. Dan Waszak, Senior Vice President of Quantum Real Estate Advisors, Inc., represented the purchaser in the transaction.
Mr. Waszak had the following comments regarding the transaction, “This was the first acquisition in a multi-property 1031 exchange for the Purchaser. He was able to acquire a well-located, high-quality asset for his portfolio that he will hold for the long-term.” Mr. Waszak continued, “This acquisition is yet another example of the resiliency of the net-lease sector, especially the ‘essential needs’ retailers.”
Quantum Real Estate Advisors, Inc. (www.qreadvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management and financing.