The investors behind Spanish clothing retailer Zara have purchased a former theater building in the Gold Coast for $176M. The building, at 58 E Oak St, was purchased by Ponte Gadea Chicago from the Don Wilson-led local trading firm DRW Trading Group. DRW renovated it into a retail space in 2011, Crain's reports. It now houses several high-end retailers, including Tom Ford, Fig & Olive and Louis Vuitton. Cushman & Wakefield brokered the transaction between DRW and Ponte Gadeo, a U.S. branch of Zara's parent company, Inditex, which is owned by Spanish billionaire Amancio Ortega. The theater, which sits on a tony stretch of Chicago's Near North Side just blocks from the lakefront, first opened in 1938 and operated as a movie house until 2006. [Crain's]
Retail Investors Buy Gold Coast Theater for $176M
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Related Topics:
58 E Oak St
, Amancio Ortega
, Cushman & Wakefield
, Don Wilson
, DRW Trading Group
, Esquire Theatre
, FIG & OLIVE
, Gold Coast
, Louis Vuitton
, Ponte Gadea
, Tom Ford
, Zara
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