STREAM Arranges $7.4 Million Sale of Fulton Market’s Federales
CHICAGO, IL – December 20, 2019 – STREAM Capital Partners, LLC (“STREAM”), a national net lease and sale-leaseback advisory group, has arranged the sale of a retail net leased property in the Fulton Market submarket of Chicago. The tenant, Federales, is a popular bar and grill specializing in Mexican fare. Federales is under a long-term absolute net lease at the subject property. This was the second sale of this property for STREAM, who also executed the sale leaseback of the property for the owners of Federales in 2017.
Multiple offers were received in a highly competitive process resulting in a private California-based investor acquiring the property. Jordan Shtulman and Jonathan Wolfe of STREAM Capital Partners represented the seller on the transaction.
Shtulman said that “the sale of the Federales property demonstrates the continued investor demand for properties in Fulton Market. Fulton Market continues to be a desired destination for office tenants and retailers that provide services to the people that work at these companies. Fulton Market is a submarket that is receiving strong interest from buyers across the country and even internationally.”
Wolfe added that “Federales is such a strong performer and, with a seasoned management group aiming to take it to other markets to grow brand equity, we continue to see Federales as a mainstay in Fulton Market for many years to come.”