The biggest tenant within the property FirstCity bought is Viper Alley, a celebration space, which leases 15,500 square ft, based on Ten-X. However the four-building rentals are 33 percent vacant. Other tenants include Red Robin, T-Mobile and FedEx Office, based on Ten-X.
ECD, noted for developing the Wit hotel informed, is also creating a 195-room hotel known as Hotel EMC2 at 228 E. Ontario St. in Streeterville. The 21-story hotel will open by April 2017, Greenberg stated.
#8220;CityPark at Lincolnshire presents traders having a solid lease-up chance inside a top-tier, Northern Chicago submarket,#8221; Gordon Cruz, gm of Ten-X#8217;s real estate division, stated within the statement. #8220;This can be a proven, high-quality property having a strong tenant base that provides a brand new owner the opportunity to increase occupancy and take advantage of extension options.#8221;
The vendor is really a venture of Waco, Texas-based FirstCity Financial, which bought the distressed loan around the property in 2013, based on a loan report.