SOURCE: Titan Commercial

Titan Commercial

May 17, 2011 11:41 ET

Titan Commercial Closes Four Chicago-Area Transactions

CHICAGO, IL--(Marketwire - May 17, 2011) - Ben Rosenfield, Principal, and Ryan Clay, Associate Broker, represented an entity of Marc Realty, MRR Special Assets LLC, in the off-market disposition of 2941 N. Clark, which sold for $1,375,000. The vacant 7,900 square foot building was sold to Cimpar Investments LLC who facilitated the sale through obtaining a SBA loan from Chase bank. Marc Realty acquired the property through the acquisition of a portfolio of notes in November 2010. The site, previously a Buca di Beppo restaurant, will be redeveloped into a medical office. The deal took 65 days from contract-to-close and was completed March 24.

Clay additionally represented tenant Orchards I LLC in the leasing of 4,600 square feet of retail and 3,000 square feet of patio space at 688 N. Milwaukee. Here, the tenant will launch the first of several Urban Orchards, an upscale boutique grocery store, in the Chicago area. The ground-level vacant space was signed for a 6-year lease term and closed March 18. Landlord 688 Milwaukee Ventures Inc. owns the 36,826 square foot mixed-use building, which was recently renovated in 2007. For more information on Urban Orchard, visit their website at www.myurbanorchard.com.

In a separate transaction, Dan Steinberg, Vice President, and Rosenfield represented the tenant and landlord in the lease execution of a 3,500 square foot space located at 2833 N. Broadway. The tenant, who signed a 10-year lease term, is an experienced restaurateur who has slated the space to be an American casual dining restaurant. GB Property Management owns the mixed-use building, which totals 18,000 square feet. The negotiation was completed March 7.

Rosenfield also represented tenant Alpine Capital Investment LLC in a 3-year lease negotiation for a 1,100 square foot office space at 29 N. Wacker. The transaction was completed on March 3, and the landlord was represented by Kevin Gillihan of Bradford Allen Realty Services.

Founded in 2007, Titan Commercial is a commercial real estate brokerage firm whose mission is to improve the lives beyond those involved in the negotiation. Specializing in the acquisition, disposition and leasing of commercial real estate properties, this full service firm has completed over $200 million in transactions and is active in representing landlords, tenants, sellers, purchasers and investors nationwide. For more information, visit www.titancommercialrealestate.com or call 312.373.7100.

Contact Information

  • For More Information:
    Emily VanderBeek
    Marketing Director
    312.373.7100