| Press Release / January 2007 | View PDF |
Next Realty LLC Adds Three New Tenants for Prominent Downtown Chicago Parking Garage
Chicago, IL (January 26, 2007) – Andy Hochberg, managing principal, Next Realty LLC, announces the addition of Beck’s Bookstore, KFC and 7-11 as new retail tenants for the Rolls Royce Garage, located at 60 E. Lake in downtown Chicago. The retail component of the property is now at full occupancy.
The 60 E. Lake facility will incorporate a 5,000-square-foot Beck’s Bookstore. Beck’s, a well-known regional textbook seller, relocated because it was seeking a larger space that was closer to Chicago’s Harold Washington College. The garage will also gain a 2,880-square-foot KFC and a 2,440-square-foot 7-11, which are new locations for both chains.
A Next Realty affiliate, in partnership with Becker Ventures, acquired the 12-story, 200-space parking garage in the winter of 2004. The property, located a half-block west of Michigan Avenue and three blocks south of the Chicago River, is the preferred parking provider for the recently opened 381-room Hard Rock Hotel-Chicago, located at 230 N. Michigan Ave. The garage was designed by Tigerman McCurry Architects and is one of the few downtown Chicago parking garages designed by an internationally known architectural firm.
“To maximize the value of this property, we were seeking the best uses for the retail spaces,” said Marc Blum, CCIM, CPM, principal and chief operating officer of Next Realty. “Our goal is to serve area consumers while maximizing revenues for the parking garage.”
About Next Realty LLC
Next Realty LLC, with offices in Northbrook, Ill., and in McLean, Va., works to create and retain wealth through commercial real estate, including acquiring and developing shopping centers, retail land and parking structures. Next Realty principals own and manage a portfolio valued in excess of $375 million throughout 12 states.
