JOINT VENTURE SELLS MARIANO’S STORE IN CHICAGO FOR $40.5M

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CHICAGO — Outlook Development, Bucksbaum Retail Properties and Simon Konover Development have sold a Mariano’s Fresh Market grocery store in Chicago for $40.5 million. Clark 1625 LLC, a New York City-based private investor, purchased the newly constructed, 65,568-square-foot store. The property is located at 1615 S. Clark St. in the South Loop submarket of Chicago. Guy Ponticiello, Bruce Westwood-Booth, Brian Shanfeld and Matt Berres led the Jones Lang LaSalle’s capital markets team, which represented the seller, in the transaction. Mariano’s Fresh Market is part of Roundy’s Supermarkets Inc.’s grocery store chain and it operates on a triple-net lease with 20 years of remaining on its lease.

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