Done Deals: JLL closes $2.38 million sale of Kenosha, WI retail property

Monday, April 6, 2020

JLL closes $2.38 million sale of Kenosha, WI retail property

Giordano’s restaurant, 7060 Green Bay Road, Kenosha, WI

CHICAGO, IL – JLL Capital Markets announced it 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.

Alex Sharrin

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.

Nicholas Kanich

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.