CBRE Facilitates Chicago Retail Lease

By Roxana Baiceanu

11730 S. Marshfield Ave., Chicago

CBRE has negotiated a retail lease at Chicago’s Marshfield Plaza, a 452,935-square-foot shopping center located in the South Side, on behalf of the owner. The new tenant is Old Navy, which will occupy 11,627 square feet of space. The retailer will join other anchor tenants including Target, Burlington Coat Factory, Marshall’s, LA Fitness, Petco and Jewel-Osco.

In addition to the six anchors, Marshfiled Plaza also provides limited inline and outlot leasing opportunities. Located at 11730 S. Marshfield Ave. and visible from Interstate 57, it is one of the shopping centers that continue to perform well in the current changing retail landscape. The nearby area has a population of more than 170,000 people, which ensures a sustained traffic.

“The high-visibility of this retail development was very attractive to Old Navy,” said CBRE Senior Vice President Joe Parrott, the deal broker, in a prepared statement. “This lease is a win-win for the area and the retailer as it will help assure the long-term health and viability of the largest shopping center in this neighborhood.”

Image courtesy of CBRE