Finesa Real Estate Group Expands Portfolio by Acquiring 41,148 SF Retail Space in Chicago, IL

ROCKVILLE, Md., June 11, 2013 /PRNewswire/ -- Finesa Real Estate Group, a leading investor and operator of multi-family and retail real estate assets, announces the acquisition of a retail property outlet on the North Side of Chicago, IL.   Finesa recently closed on a 41,148 SF retail grocery space with attached garage located at 6020 North Cicero Avenue, Chicago, IL.  The property is currently leased to Whole Foods under a fifteen year lease agreement. 

The retail space is located on the ground level of a multi-story 136 unit condominium complex located on the north side of Chicago.  The complex has 167 parking spaces comprised of 37 surface and 130 underground garage spaces that are designated solely for Whole Foods patrons.  Visible from I-94, the property sits at the corner of Cicero and Peterson adjacent to the on and off-ramps for I-94. A high-traffic area, this location offers highway visibility to over 160,000 vehicles per day and an additional 57,000 vehicles per day from surrounding surface streets.  With almost 300,000 people within a three mile radius and an average household income of over $122,000 within a one mile radius, this location offers excellent demographics.

"This acquisition reflects the continued growth and expansion of the Finesa portfolio," said Andres Gonzalez, President of Finesa. "As our third investment in the Chicago area, we are drawn to strong urban markets and this opportunity clearly fits well within our investment strategy as Whole Foods is the number one natural foods chain in the world and a well-established credit tenant."

FINESA REAL ESTATE GROUP

Finesa Real Estate Group ("Finesa") is a real estate private equity firm and operating company founded in 2002 and headquartered in the Washington, DC metropolitan area. Finesa specializes in the acquisition, redevelopment and management of commercial assets. Historically, the firm has operated along the East Coast and Mid-West regions of the United States, with focus on multifamily and retail properties. In 2012, Finesa launched Diversified Investment Partners (DIP) a real estate private equity fund developed for Latin American institutional and qualified high net worth investors that invests in multi-family, retail, office and industrial/flex properties.  For more information about Finesa and DIP please visit our website:  www.finesagroup.com.

SOURCE Finesa Real Estate Group

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