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Greenstone Partners Brokers Chipotle-Anchored Retail Sale
Greenstone Partners has sold 1733-1735 N. Damen Avenue, a 4,747-square-foot two-tenant retail investment located in Chicago’s Wicker Park neighborhood. The property is 100% occupied by Chipotle and Playa Bowls and sold for 99% of the list price.
Greenstone Partners’ Danny Spitz and Brewster Hague exclusively represented the seller, a Chicago-based investment and development company. The closing completes Greenstone’s 70th investment sale in the Wicker Park and Bucktown neighborhoods, representing a total transaction volume of $196 million in the submarket.
Chipotle has been operating at the property since 2004 and recently exercised their last remaining 5-year renewal option. Playa Bowls entered into a new 10-year lease. Since 2014, Playa Bowls has expanded to more than 200 locations across 22 states, with this being their first location in Illinois.
The property benefits from its desirable location in an area home to national retailers such as Barnes & Noble, Adidas Originals, YETI, Starbucks Reserve, and Lululemon.
