CBRE’s Chicago office recently represented ownership in a new lease to Old Navy for 11,627 square feet at Marshfield Plaza, 11730 S. Marshfield Avenue. The retail center is in Chicago’s Morgan Park neighborhood.
Old Navy will be joining other tenants such as Target, Burlington Coat Factory, Marshall’s, LA Fitness, Petco and Jewel-Osco at the 452,935-square-foot retail center on Chicago’s south side. Located within three miles of 173,000 people and an area employee base of 44,714, Marshfield Plaza is well-situated along I-57, with prime signage and a large, daily traffic flow. Along with the six anchors, the power center offers limited inline and outlot leasing opportunities.
“The high-visability of this retail development was very attractive to Old Navy,” said Joe Parrott, CRX, CLS, senior vice president at CBRE who represented a global real estate investment manager in the transaction. “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.”