Michael Petrik & Rick Scardino Of Lee & Associates Facilitate $1.17M Sale Of Retail Property In Lake Zurich | 884 South Rand Road | Adam Foret, Rick Scardino, Michael Petrik | Retail | Sale

Summary

Sale

ILLINOIS

Retail

9,800 sqft

The Deertrail Court strip center, located at 884 South Rand Road in Lake Zurich, was sold for $1.17 million. The 9,800-square-foot property is anchored by Walmart and features various tenants, including Eye Level Learning Center, Mimi Nails, Nova Care Rehabilitation, Rush Physical Therapy, and Sake Sushi & Grill.

Summary of transaction details:

Property Type: Retail
Transaction Amount: $1,170,000
Buyer: N.D.C.V.G. Properties, LLC
Seller's Representative: Michael Petrik & Rick Scardino - Lee & Associates
Buyer's Representative: Adam Foret - CBRE
Market: Lake Zurich
Address: 884 South Rand Road
Square Footage: 9,800
Price per Square Foot: $119
Note: Physical upgrades are underway to enhance the property's appeal to tenants.

Lee & Associates of Illinois facilitated the transaction, with Rick Scardino and Michael Petrik representing the seller, while Adam Foret of CBRE represented the buyer. The property, constructed in 1980, is currently undergoing improvements to attract both new and existing tenants.

Players

All
5

Agents
3
Agencies
2

Adam Foret

Retail Investment Sales Expert

$51.4M Sold

$9.3M Sold

$1.2M Sold

Details

Deal Summary

SOLD

IMAGE: Rick Scardino, Michael Petrik & Adam Foret DATE: 04/30/2024 ADDRESS: 884 South Rand Road MARKET: Lake Zurich ASSET TYPE: Retail BUYER: N.D.C.V.G. Properties, LLC BUYER'S REP: Adam Foret - CBRE (@CBRE) SELLER'S REP: Michael Petrik & Rick Scardino (@RickScardino) - Lee & Associates (@LeeAssociatesRE) SALE PRICE: $1,170,000 SF: 9,800 ~ PPSF: $119 NOTE: Lee & Associates of Illinois facilitated the sale of Deertrail Court, a 9,800-square-foot strip center located at 884 S Rand Road in Lake Zurich, for $1.17 million. The seller was represented by Rick Scardino and Michael Petrik of Lee & Associates, while the buyer, N.D.C.V.G. Properties, LLC, was represented by Adam Foret of CBRE. The center, built in 1980 and anchored by Walmart, maintains strong occupancy with various tenants including Eye Level Learning Center, Mimi Nails, Nova Care Rehabilitation, Rush Physical Therapy, and Sake Sushi & Grill. Physical upgrades to the property have already begun under the new ownership, aimed at enhancing the center's appearance and appeal to both existing and new tenants.

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Address884 South Rand Road

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