Home›Real Estate›Commercial›Edwards Realty buys Block 37 in a $30 million deal

Edwards Realty buys Block 37 in a $30 million deal

The 278,000-square-foot vertical shopping mall is about 65% occupied, and the buyer plans to rename and reposition it as an experiential destination.

Reported · Written up by our desk · Commercial

Edwards Realty Company has acquired Block 37 in a $30 million deal, purchasing the property at a discount, according to ConnectCRE.

The company plans to rename the shopping center and reposition it as a modern, experiential destination, while it also enters discussions with retailers, restaurants, and experience-based operators to fill space, ConnectCRE said.

Block 37 is a 278,000-square-foot vertical shopping mall at 108 N. State St. in Chicago that occupies a full city block bounded by State, Washington, Dearborn, and Randolph streets, and it is currently about 65% occupied, ConnectCRE reported.

Edwards Realty Co. President Ramzi Hassan said in a statement that the property sits on a prime downtown corner and has not performed in line with its location, as described by ConnectCRE.

More like this

Sources