Marcus & Millichap brokered the sale of adjacent Chipotle and 7 Brew properties in Valparaiso, Indiana. The properties sold for $4,247,000.
Nicholas Kanich and Mitchell Kiven, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, an Indiana-based retail developer and operator, and procured both buyers directly, a Nevada-based investment and development firm and an Indiana-based investor and residential developer.
Chipotle is located at 2803 Calumet Ave. and 7 Brew is located at 2805 Calumet Ave. Both are newly constructed retail buildings secured with new 15-year leases. The properties are surrounded by national retailers including Starbucks, Burger King, a high-traffic YMCA and a Strack & Van Til supermarket across Calumet Avenue.
