Marcus & Millichap Facilitates $2.6 Million Sale of Gateway Plaza Retail Center and Arby's in East Peoria, Illinois

EAST PEORIA, Ill., Sept.3, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Gateway Plaza, a 14,449-square-foot retail strip center, and a net-leased Arby's location in East Peoria, Illinois. The property sold for $2.6 million.

Chris Garavaglia and Alex Perez, investment specialists in Marcus & Millichap's St. Louis office, had the exclusive listing to market the property on behalf of the seller, and procured the buyer, a Chicago private equity group. Steven Weinstock, Broker of Record in Illinois, assisted in closing the transaction.

Located on 2.46 acres at 101 River Road, the property includes the Gateway Plaza strip center, Arby's and a drive-thru pad site for an ATM. Built in 2002, the asset is anchored by Sherwin Williams, who has been at the center for more than 10 years, with additional tenants including T-Mobile and Sports Clips. Shadow anchored by Walmart and Lowe's, the property receives high visibility from all traffic entering the retail trade area from I-74 and Highway 40.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.