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.
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