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Marcus & Millichap sells net-leased Gerber Collision building in Illinois

The 18,620-square-foot Cicero property closed with a new 15-year corporate lease, aligning it with long-term 1031 exchange demand.

Reported · Written up by our desk · Industry

Marcus & Millichap completed the sale of a net-leased Gerber Collision & Glass property at 5840 W. Ogden Ave. in Cicero, Illinois, according to ConnectCRE.

The transaction covered an 18,620-square-foot building and, as part of the deal, the buyer received a newly renovated property backed by a new 15-year corporate lease with the national, publicly traded tenant.

ConnectCRE reports that the deal also highlights the site’s Ogden Avenue location, which supports recurring demand for automotive repair services and is positioned as a long-term 1031 exchange investment.

Marcus & Millichap’s Lior Regenstreif, working with Steven Weinstock, handled the transaction, ConnectCRE said.

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