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Newmark Sells South Loop Mariano’s Store and Adjacent Parking Lot 

Newmark completed the sales of a single-tenant net-leased Mariano’s Fresh Market grocery store and an adjacent but separately owned ground-leased parking lot in Chicago’s South Loop. The assets traded from two separate sellers to an undisclosed purchaser for a total of more than $58 million. 

The transactions were spearheaded by Newmark’s Net Lease Capital Markets group comprising vice chairman Matt Berres, director Samer Khalil and associate Karick Brown in cooperation with Carrie Frye. When the Newmark team sourced a buyer for the Mariano’s property, a build-to-suit completed in 2013, the parking lot owner also agreed to sell the ground lease to the same buyer. 

“This property’s strategic location in Chicago’s South Loop, premier Mariano’s (Kroger) brand and passive lease structure make this an unparalleled investment opportunity,” said Berres. “We were pleased to also arrange the sale of the ground-leased parking lot to the same buyer.”

Pictured: a Mariano’s in Chicago.


Inside The Story

Newmark's Berres

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 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).

  • ◦Sale/Acquisition