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Chicagoland Property Group Acquires Net-Leased Burger King in Valparaiso, Indiana

by Nick
Burger King in Valparaiso, Indiana

A net-leased Burger King property in Valparaiso, Indiana, has been successfully acquired by a Chicagoland property group for $1.6 million, announced Marcus & Millichap. Nicholas Kanich, first vice president of investments, highlighted the competitive bidding process that led to the sale, emphasizing the buyer’s attraction to the location and the stable tenancy of the franchise, one of the nation’s largest restaurant chains.

Marcus & Millichap’s Chicago downtown office managed the transaction, representing an Indiana retail property developer and manager in the sale. The buyer, an Illinois-based real estate development and management firm, was also secured through their efforts. Josh Caruana, acting as Broker of Record in Indiana, played a key role in facilitating the deal.

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Located at 2921 Calumet Avenue, the 3,320-square-foot property has been home to Burger King since 2008, with options for lease renewal currently in place. Situated within a robust retail center, the property benefits from its proximity to other popular retailers such as Starbucks, Dairy Queen, Subway, and Dollar General.

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