January 10, 2020
Greenstone Partners closed on the sale of a single-tenant, triple-net leased Jewel-Osco near the University of Chicago campus in the South Side’s Hyde Park/Woodlawn neighborhood. Terms of the sale weren’t disclosed.
The 48,000-square-foot grocery store was developed in 2019 and features a 20-year triple net lease with a rare Albertson’s parent company corporate guarantee. With a captive audience of shoppers from the University of Chicago’s main Hyde Park campus, Jewel-Osco is reportedly the only traditional grocer within a two-mile radius, and its pharmacy is the closest to UChicago Medicine.
The undisclosed purchaser was also attracted to the strong infill demographics with a population exceeding 270,000 within a three-mile radius. Greenstone, in partnership with Hanley Investment Group, exclusively represented the seller, a Chicago based development partnership, and also procured the buyer.
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