Oceans And Stars Leasing Acquires Palos Heights Retail Property For $2.85M

A retail property located at 7202 W 119th Pl in Palos Heights has been sold. The property, which spans 5,200 square feet, was sold for a price of $2,850,000, resulting in a price per square foot of $548. The sale was completed on 07/12/2022.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $2,850,000
• Square Footage: 5,200
• Address: 7202 W 119th Pl, Palos Heights
• Market: Palos Heights

The buyer of the property was Oceans and Stars Leasing II, LLC & Oceans and Stars Leasing I, LLC, while the seller was BIRE-Palos Heights, LLC. The transaction was facilitated by Brian Parmacek from Marcus & Millichap.

A note from the broker, Brian Parmacek, states that the sale has just closed. The property is a Starbucks anchored strip center and was purchased by a private out-of-state investor. Despite multiple offers, the property was sold at the list price. The strip center is 100% leased.