Case Study #1: Southport Avenue Portfolio II
Location: 3423 N Southport Avenue, 3434 N Southport Avenue, and 3451 N Southport Avenue
City/State: Chicago, IL
Submarket: Lakeview
Property Type: Mixed Use (Retail & Residential)
Square Feet: 8,900
Tenants: J.Crew, SoulCycle, Bonobos
Overview:
L3 Capital purchased a three-building portfolio alongside a State Pension Fund on Southport Avenue between Roscoe and Addison Streets.
Execution:
Within 24 months, L3 Capital had negotiated termination options with five original tenants, redeveloped the assets from 8,900 square feet to 16,100 square feet, and signed all new leases with J.Crew, SoulCycle, Bonobos, Suvarna Chiropractic, and K. Hall Designs.
3423 N Southport Avenue
3423 N Southport Avenue
Case Study #2: 72-76 Greene Street “The King of Greene Street”
Location: 72-76 Greene Street
City/State: New York, NY
Submarket: Soho, Manhattan
Property Type: Mixed Use (Retail & Office)
Square Feet: 45,000
Tenants: Patagonia, Joseph (London-based fashion retail chain)
Overview:
L3 Capital purchased this 45,000-square foot, 5-story retail/office asset alongside ASB Real Estate Investors.
Execution:
L3 Capital immediately implemented a major capital improvement plan to enhance the façade, modernize the elevators, upgrade the HVAC, and fully renovate the interior. After executing three termination options with existing tenants, our team was able to sign leases with Assembled Brands, Joseph, and Patagonia for a 3-story flagship store.
