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Valparaiso, Ind. — Marcus & Millichap has arranged the $4.3 million sale of two adjacent single-tenant retail properties in two separate transactions located in Valparaiso. Chipotle is located at 2803 Calumet Ave. and 7 Brew is located at 2805 Calumet Ave. The newly constructed retail buildings operate on 15-year leases.
Nicholas Kanich and Mitchell Kiven of Marcus & Millichap listed the property on behalf of the seller, an Indiana-based retail developer and operator, and procured both buyers, a Nevada-based investment and development firm and an Indiana-based investor and residential developer.