(For more retail coverage, click GlobeSt.com/RETAIL.)

WARRENVILLE, IL-A 1.6-acre single-tenant ground lease at Winfield and Diehl roads has been sold by Baum Realty Group. The property is 100% occupied by a retail location of the Bank of America. The property was sold by a private developer based in Winnetka, a North Shore suburb of Chicago. The buyer was not disclosed. The deal was valued at $3.2 million.

Chad Firsel, an EVP at Baum Realty, represented both parties in the transaction. He tells GlobeSt.com that the area continues to be a hot retail market. "In addition to this deal in Warrenville, I've recently done deals in nearby Naperville and Aurora. This particular deal in Warrenville attracts a lot of attention because of Cantera," he tells GlobeSt.com.

Cantera, a former quarry located on 650 acres, was developed in the 1980s into a business, residential and entertainment/retail development. "The location of the property, coupled with the credit-worthiness of a tenant like Bank of America, made this a great investment opportunity," Firsel says.

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