Newport Capital Partners has acquired the Clybourn Galleria, a 25,300-square-foot urban retail property, for $11.75 million. The property was acquired on behalf of Newport Capital Partners Fund I, L.P.
Located at 1845 N. Clybourn in Chicago, the property is 94 percent leased to a diverse mix of tenants including Ann Taylor Loft, Joseph A. Bank, Gymboree, James & Sons Jewelers, Massage Envy and Back to Bed.
Involved in the transaction were Daniel Kaufman and Amy Sands of HFF, Ben Greazel and Joel Simmons of Newmark Grubb Knight Frank, and Pat McNulty and Erica Wilms of Guggenheim Commercial Real Estate Finance.
Newport Capital Partners Fund I, L.P. is a closed end, co-mingled investment fund targeting multi-tenant, convenience and necessity based retail properties in major Midwestern metro areas.
