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Photo credit: Googe Street View
Seven Chicago buildings that are currently leased to Giordano's, the pizza restaurant chain, have sold for $14M. Origin Capital Partners sold the portfolio of buildings, which consists of six retail properties and one industrial property, to Arizona-based STORE Capital. Origin acquired the portfolio for $9.4M in 2011, Crain's reports, when Giordano's was liquidated under Chapter 11 protection. This deal represents a nearly 50% price increase in less than four years. The buildings have a combined 46K SF and long-term leases with Giordano's. Origin also signed leases with Sprint and Athletico physical therapy before making the sale. [CCB]
