Baum Realty Group wrapped up a the third quarter with 20 closed retail transactions across the Chicago area.
“We have established a surprising amount of momentum as we look to cap off 2020 and begin a new year,” said Baum Realty’s president, Mike Demetriou.
According to the Chicago-based firm, “internet proof” retail continues to grow at a steady pace while F&B remains the category leader. Other sectors that provide critical services—like senior care and veterinarians—and simply must continue, are not experiencing a contraction. And given that so many people adopted new pets during the pandemic, Baum Realty expects pet-related activity to grow in the near future.
On the tenant side, the firm represented Starbucks in seven separate lease transactions in Chicago and the surrounding suburbs including Melrose Park, Cicero, Wood Dale, Antioch and North Chicago. They also aided Chipotle in its new lease at Edens Collection, 4713-4715 W. Foster Avenue in Chicago. This will be home to the first “Chipotlane” drive-through in the city.
Baum Realty also brokered three new lease transactions for Wingstop in Chicago, North Chicago and West Chicago. In Geneva, Currito signed a new lease at 1873 S. Randall Road while Liquor Barn took new space at Hawthorn Hills Shopping Center in Vernon Hills. And Baum Realty also advised Cresco Labs in its massive new flagship at Woodfield Gatherings located at 1735-1741 E. Golf Road in Schaumburg.
On the landlord representation side, the firm represented multiple private owner/investor including deals that brought Qdoba to Main Street Marketplace, 2202 N. Main Street in Wheaton; Doctors of Physical Therapy to Lemont Village Square, 1215-1243 State Street in Lemont; Dollar Tree to Harlem Crossings located at 19800 S. Harlem Avenue in Frankfort and Smallcakes to 17923-17929 S. Halsted Street in Homewood.
Baum Realty also represented Excess Space Retail Services in signing a new lease with JenCare Senior Medical Center at 600-618 W. Sibley Boulevard in Dolton. Finally, the firm represented Fidelity Group in a transaction that brought Companion Animal Hospital to Deerpath Commons, 917, 927 and 1015 S. Rand Road in Lake Zurich. “The pandemic’s prolonged effects are, of course, negatively impacting retail but for retailers that provide everyday goods and services, demand remains relatively strong,” said Demetriou.