After acquiring the asset in 2013, Newport Capital Partners tapped Holliday Fenoglio Fowler, L.P. (HFF) to facilitate the sale of Clybourn Galleria, a 24,601-square-foot, fully leased, urban retail center in Chicago’s Lincoln Park neighborhood. Los Angeles-based Westwood Financial purchased the property for an undisclosed sum.
Clybourn Galleria is situated on .821 acres at 1841-1847 N. Clybourn Avenue, which is in the heart of the North and Clybourn retail corridor, one of Chicago’s busiest mixed-use neighborhoods and the dominant retail market serving Chicago’s north side. Completed in 2005, Clybourn Galleria is fully leased to an e-commerce-proof tenant lineup, including Natuzzi Italla Furniture, Jos. A Bank, SWEAT, Massage Envy, Amazing Lash, Smartchoice MRI and Red Wing Shoes.
The retail property is surrounded by several of Chicago’s most affluent North Side neighborhoods, including Old Town, Gold Coast, Lakeview and Bucktown/Wicker Park. More than 498,400 residents live within three miles of the property, and the average household income within a half-mile radius is $161,671.
The HFF investment advisory team representing the seller included senior directors Amy Sands and Clinton Mitchell.