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Las Vegas-based investment firm, Kingsbarn Realty Capital, has acquired a Tesla dealership property in Northbrook, Illinois. The 48,000-square-foot flagship at 1200 Skokie Boulevard was sold for nearly $30 million, or about $625 per square foot, according to Crain's. JLL brokers Alex Sharrin and Josh Katlin represented the seller, a joint venture between Chicago-based developers Focus and Fort Union.

    The property, which opened in August, is Tesla's only center in the Chicago area that provides new vehicle preparation, delivery, and maintenance. Despite slower commercial real estate transactions due to tighter lending conditions, properties like this one are attractive investments due to their steady income from established tenants.

    "The combination of Tesla's long-term commitment and Northbrook's affluent demographics made this an attractive investment opportunity," said Sharrin. Focus is a major player in the region's real estate market, with a history of successful developments. Kingsbarn Realty Capital, led by founder Jeff Pori, manages over $2 billion in assets and owns over 280 properties nationwide, expanding its portfolio with a focus on stable, high-performing properties.