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Regency Centers Acquires Retail Property In Naperville For $52.4M

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SOLD
$52,400,000

Illinois

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Retail115,000 SF
Sold 04/21/2022
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Property Image
SOLD

Regency Centers Acquires Retail Property In Naperville For $52.4M

8-152 West Gartner Road, Naperville, Illinois 60540, United States

See Similar Deals
Retail115,000 SF
Sold 04/21/2022
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Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$455
Total Square Footage:115,000 SF
Transaction Type:Sale

The retail property located at 8-152 W. Gartner Rd in Naperville has been sold for a total of $52,400,000. The transaction was completed on April 21, 2022. The property spans across 115,000 square feet, resulting in a price per square foot of $456. The asset was acquired by Regency Centers, represented by Lisa Palmer, while the seller was Northpond Partners. The brokerage services were provided by CBRE.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $52,400,000
  • Address: 8-152 W. Gartner Rd, Naperville
  • Market: Naperville
  • Buyer: Regency Centers - Lisa Palmer
  • Seller: Northpond Partners
  • Broker: CBRE
  • Square Footage: 115,000
  • Price per Square Foot: $456

The acquisition of the retail property at 8-152 W. Gartner Rd in Naperville was facilitated by Lisa Palmer representing Regency Centers. The seller, Northpond Partners, entrusted CBRE with the brokerage services for this transaction. This deal showcases the involvement of key individuals and companies driving the success of the sale.

Players

Lisa Palmer
12 deals$804.6M volume
BUYER

SELLER

Details

SOLD
IMAGE: Lisa Palmer DATE: 04/21/2022 ADDRESS: 8-152 W. Gartner Rd MARKET: Naperville ASSET TYPE: Retail BUYER: Regency Centers - Lisa Palmer SELLER: Northpond Partners BROKER: CBRE SALE PRICE: $52,400,000 SF: 115,000 ~ PPSF: $456

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$186,166.13
Cash-on-Cash Return-1.27%
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