JLL closes $2.38M sale of Kenosha retail property
The building is triple net leased to the first Giordano’s restaurant in Wisconsin
CHICAGO, March 25, 2020 – JLL Capital Markets announced today that is has closed the $2.38 million sale of a 4,500-square-foot, single-tenant retail building triple net leased to a new Giordano’s restaurant in Kenosha, Wisconsin.
JLL marketed the property on behalf of the seller, Speedwagon Properties, and procured the buyer, a private family out of Chicago.
Giordano’s first opened in Chicago in 1974, and the award-winning restaurant is known for its pizza. It currently operates nearly 70 locations across 10 states, and the subject property represents Giordano’s first entry into Wisconsin. Situated on .81 acres at 7060 Green Bay Rd., the building is near where Green Bay Road intersects with 75th Street, resulting in visibility to a combined 68,200 vehicles a day. The building was completed in late 2019 and is within a healthy retail and industrial market, and local demographic support includes nearly 70,000 residents within a three-mile radius of the building. Kenosha, which houses more than 100,000 residents, is approximately 60 miles north of Chicago and 40 miles south of Milwaukee.
The JLL Net Lease Capital Markets team representing the seller was led by Senior Directors Alex Sharrin and Nicholas Kanich along with Senior Vice President Larry Kilduff.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.