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Women's fashion retailer Aritzia will backfill a space formerly occupied by Gap on Chicago's Magnificent Mile

Canadian Retailer Aritzia Inks Flagship Lease on Mag Mile 

CBRE arranged a 46,000-square-foot retail lease on Chicago’s Magnificent Mile. Aritzia, a Canadian women’s fashion boutique, will open its fourth Chicago-area location at 555 North Michigan Avenue in 2023, filling a space left vacant by Gap. The deal is the largest completed transaction on the Magnificent Mile since 2015 and the first flagship deal since 2019. 

CBRE’s Luke Molloy, Danny Jacobson, Steve Ansani, and Cliff Vann represented 555 N. Michigan’s ownership. 

“Coming out of the pandemic, this is an important deal for the Mag Mile, and Chicago in general,” said Molloy. “Aritzia is one of the most sought-after brands in the world and they believe in the future of North Michigan Avenue.” 

He added, “What they have planned for their new flagship is incredible and we expect this to be one of many new deals to come as the Magnificent Mile returns to prominence.” 

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CBRE's Molloy

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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