Trending
REI signs lease for 40K sf flagship store along Chicago River
The deal with a joint venture of R2 and Goldman Sachs is for 15 years
REI leased a 40,000-square-foot building along the North Branch of the Chicago River.
The Washington-based outdoors apparel chain inked the 15-year deal for 1422 North Kingsbury Street with a joint venture of Chicago-based R2 and Goldman Sachs, according to Crain’s.
R2 and Goldman Sachs bought the property for $6.7 million in 2015.
REI is moving to the building from its current 32,000-square-foot store at Halsted and Blackhawk streets. The chain also has suburban stores in Northbrook and Oakbrook Terrace, and it recently leased space along the Des Plaines River in Vernon Hills. [Crain’s] — John O’Brien