Marcus & Millichap Negotiates $7.8M Sale of Retail Center in Highland Park, Illinois
Why this matters
Retail has become a quiet outperformer. A decade of effectively zero new development has left necessity-driven, grocery-anchored, and Sun Belt strip product with negligible vacancy and re-leasing spreads in the high single digits. Cap rates have compressed in step, and the bid for stabilized portfolios is again broad across REITs, pension funds, and institutional core-plus capital. The asset class has effectively rerated as a defensive yield trade rather than a secularly challenged sector.
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On the RET wire
- Disclosed retail deal value tracked in September 2026: $4B across 67 reported transactions. All Retail coverage →
- 154 stories mentioning Marcus & Millichap on the wire in the past 90 days. Marcus & Millichap coverage →
Computed from Real Estate Trail’s own tracked coverage
HIGHLAND PARK, ILL. — Marcus & Millichap has negotiated the $7.8 million sale of Garrity Square, a 13-suite retail property in Highland Park. The 20,000-square-foot center is located at 1833 Deerfield Road. The asset…
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