Tuyen Nguyen, CCIM of CRER, recently represented the buyer in the acquisition of a newly developed, fully leased NNN retail center in Joliet, IL. This marks the buyer’s first NNN retail investment, expanding from a portfolio previously focused on multifamily and mixed-use properties.
Transaction Details:
The property features long-term leases with Starbucks and Winnie Nails. The Starbucks ranks in the top 4% nationwide for customer visits, with over 515,000 visits in the past year, making it the best-performing coffee shop within a 13-mile radius.
Positioned at a signalized intersection on Larkin Avenue, which sees nearly 28,700 vehicles per day, the center is part of North Ridge Plaza, a busy retail destination anchored by Hobby Lobby, Burlington, and VASA Fitness, attracting over 3.1 million visitors annually. Nearby retailers such as Jewel-Osco, Hillcrest Shopping Center, and Louis Joliet Mall further enhance the area’s draw, supported by a strong local population of 93,000+ residents within a three-mile radius.
With this acquisition, the buyer is actively looking to expand further into NNN retail assets—a strategic next step in building a diversified and income-driven investment portfolio.
About Chicago Real Estate Resources Inc.
CRER (Chicago Real Estate Resources Inc.) is a full-service, commercial real estate firm licensed in Illinois and Indiana, devoted to providing exceptional service for your every real estate need. From new regulations to emerging technologies, the commercial real estate market is constantly changing. It’s our job to simplify that complexity and empower you with clear information so you can make the best decisions for your investment portfolio. Our extensive experience, personalized attention, reliability and market knowledge are just a few of the characteristics that set us apart from other real estate firms.