CHICAGO-An entity led by Leon Melohn, CEO of New York City-based Melohn Properties Inc., has paid $40.5 million for the Mariano's Fresh Market property here in the South Loop.
The 65,568-squar-foot grocery store at 1615 S. Clark St. was sold by a joint venture of Chicago-based Bucksbaum Retail Properties LLC, Franklin, WI-based Outlook Development Group and West Hartford, CT-based Simon Konover Co., according to Crain's Chicago Business.
Mariano's, a unit of Roundy's Inc. of Milwaukee, signed a 20-year lease for the building, a deal that includes four options to extend the lease for five years each, according to a Jones Lang offering memorandum. In addition to the store, the new ownership could develop an additional 500,000 square feet on the site. See story in Crain's Chicago Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
