CHICAGO, IL--(Marketwire - Dec 4, 2012) - Newcastle Limited has acquired a 12,500-square-foot retail property in Chicago's Lakeview neighborhood. The property, located at 3300 North Broadway Avenue, was purchased for $7.0 million in an all-cash deal. Peter Lynn and Dan Rosenberg of Building Equity represented Newcastle in the transaction.
The property is located within the popular Broadway Retail Corridor. Spanning the length of a city block along Broadway Avenue from Aldine Avenue to Buckingham Place, it features 267 feet of frontage and two premier corner spaces. The property is leased to a mix of national, regional and local retailers, including Caribou Coffee, Homemade Pizza Company and Ultimate Exposure. There is an existing 2,300-square-foot corner vacancy, which Newcastle Limited is currently marketing.
Newcastle Limited is a Chicago-based real estate firm. Newcastle helps institutions, corporations and investors use real estate strategically to achieve their objectives more quickly, at a lower cost, and with less risk. Newcastle also acquires and develops urban Chicago multi-family and retail real estate. An entrepreneurial investor with institutional backing, the firm can deploy large amounts of capital and close transactions quickly. To learn more about Newcastle, call Mike Haney at (312) 252-1401 or visit the company website at www.newcastlelimited.com