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The 2,800-square-foot Amazon-occupied property is located
on the ground floor of a four-story, six-unit residential
condominium building built in 2010 |
CHICAGO, IL
– Hanley Investment Group Real Estate
Advisors, a nationally recognized real estate brokerage and advisory firm
specializing in retail property sales, announced the firm has arranged the sale
of a single-tenant Amazon Hub Locker+ location strategically situated directly
across the street from DePaul University in Chicago, the largest Catholic
higher education institution in the country (with 24,000 students).
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Kevin Fryman
|
Hanley Investment
Group Executive Vice Presidents Kevin Fryman, Bill Asher and Jeff Lefko
represented the seller, Westwood Financial of Los Angeles, California. The buyer was a private investor from Mexico, City, Mexico, and was
represented by John Oks of Banco Santander International in Miami, Florida.
The
2,800-square-foot Amazon-occupied property is located on the ground floor of a
four-story, six-unit residential condominium building built in 2010 at the
signalized intersection of Webster Avenue and Sheffield Avenue, 1001 W. Webster
Avenue. Amazon Hub Locker+ offers a secure, staffed pickup and return location
for Amazon packages.
“This is a
critical Amazon Hub Locker+ location with a 4.7 Google rating (131 Google
reviews) with customer feedback focused on the convenience of the location,
great customer service, well maintained, and easy returns,” said Fryman.
“Amazon Hub Locker+ locations provide customers ease of use without any concern
about traditional doorstep package theft.”
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Bill Asher
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Amazon started
to grow its locker plan strategy in 2011 and now has locker locations in over
900 cities and towns including convenience stores, local groceries, apartment
buildings and Whole Foods Market. Amazon is said to be planning
significant growth of its locker program in the future.
During the
height of the COVID-19 pandemic, consumers spent $200.72 billion online with U.S. retailers,
up 44.4% from $138.96 billion for the same quarter the prior year, according to retail figures recently published by the Commerce Department.
That means more
than $1 in every $5 spent came from orders placed on the web during the
April-June period. Amazon-owned sales alone accounted for nearly a quarter of
all U.S. ecommerce in Q2 and is responsible for just over a quarter of
ecommerce growth from April through June.
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| Jeff Lefko |
In August,
Amazon announced that it will invest more than $1.4 billion in new offices in
Detroit, Dallas, Denver, New York, Phoenix and San Diego. The move is expected
to create 3,500 jobs in total.
It was also reported that the e-commerce giant
is in talks with mall owner Simon Property Group to turn anchor stores into
distribution hubs, the Wall Street Journal reported.
Amazon has
been reported to be pursuing a multi-format growth strategy in both urban and
suburban locations including taking over approximately 38,000 square feet of
the 88,000-square-foot space owned by Kohl’s in La Verne, California.
This is
not the first partnership between Kohl’s and Amazon. Kohl’s
sells Amazon smart home products in its U.S. stores, and last year began
accepting Amazon returns at its stores, a move which helped boost foot traffic
at Kohl’s.
About Westwood Financial
Westwood Financial is a premier, fully-integrated real estate investment platform with a portfolio of 72 shopping centers primarily concentrated in California, Arizona, Texas, Colorado, North Carolina, and Georgia.
Westwood has owned and operated neighborhood and community shopping centers for nearly 50 years, beginning with a collection of small, West-Los Angeles strip centers and growing into a portfolio of over 150 primarily grocery-anchored and service-oriented shopping centers. Steven Fogel and Howard Banchik who serve as Co-Chairs on the Board of Directors along with three independent Directors, founded the company in 1970 out of a desire to provide investors and partners with stable, income-producing real estate investments. That focus continues today.
Amazon.com,
Inc. (NASDAQ: AMZN) net sales increased 40% to $88.9 billion in the
second quarter, compared with $63.4 billion in the second quarter of 2019.
The
tech giant’s net income increased to $5.2 billion in the second quarter,
compared with net income of $2.6 billion, in the second quarter of 2019.
The
company also created over 175,000 new jobs since March 2020 and is in the
process of bringing 125,000 of these employees into regular, full-time
positions.
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The Amazon property is located at the signalized intersection of Webster Avenue and Sheffield Avenue, 1001 W. Webster Avenue, Chicago, IL
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Amazon has
received a host of awards and top rankings including #1 American Customer Satisfaction Index Internet Retail
Category, 2020, ranked in the top 10, eleven years running; #2 Fortune World’s Most Admired Companies, 2017-2020; and #4
Forbes World’s Most Valuable Brands, 2019-2020.
Asher adds,
“This is a high-profile site in a Lincoln Park/Chicago location. Lincoln Park
is one of the densest and most affluent neighborhoods in the country. There are
1,000,000 residents within a five-mile radius and a $163,000 average household
income within a one-mile radius.”
“In addition
to its proximity to DePaul University, it is only two miles from Wrigley Field
along Sheffield Avenue,” Fryman notes.
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| DePaul University, Chicago, IL |
The city of
Chicago (located in Cook County) is the most populous city in the Midwest and
the third most populous city in the U.S. with 2.7 million residents. Cook
County is the second-largest county in the U.S.
Chicago leads
the nation in residential tower construction and corporate investment with
numerous projects underway. There are more than 30 major high-rises under
construction in the greater downtown area alone.
“Properties
that are considered an essential business with long-term leases located in
dense, affluent neighborhoods are commanding top dollar in today’s market,”
said Fryman. “We expect this trend of ‘flight to quality’ single-tenant investing
to continue.” CONTACTS:
Kevin
Fryman | Bill Asher
Hanley Investment Group Real Estate
Advisors
949.585.7674 | 949.585.7684
www.hanleyinvestment.com.
www.westfin.com
