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Highlights
Farpoint Development and MCZ Development secured a 10-year lease with T.J. Maxx for 26,000 square feet of street-level space at 939 West North Avenue in the Clybourn Corridor.
The deal marks a significant step for the owners, which purchased the property at auction in February 2024 for about $20 million, less than a quarter of its $89 million sale price in 2004.
The T.J. Maxx lease is part of the property's repositioning, aimed at drawing higher traffic retail to complement existing health and wellness tenants, a strategy consistent with Farpoint's recent acquisition of distressed retail properties.