The property asset involved in this transaction is a retail space located at 1 East Wacker Drive in Chicago, encompassing a total area of 12,200 square feet. The landlord for this lease is AmTrust RE, represented by John Vance and Will Winter of Stone Real Estate. The tenant is Espiritu, a restaurant and bar featuring a Mexican-American theme, which will occupy 10,000 square feet of indoor space and an additional 2,200 square feet of patio space, replacing McCormick & Schmick’s.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not disclosed
• Square Footage: 12,200
• Address: 1 East Wacker Drive
• Market: Chicago
• Landlord: Jonathan Bennett - AmTrust RE
• Tenant: Matt Moore & Emidio Oceguera - Espiritu
• Landlord's Representative: John Vance & Will Winter - Stone Real Estate
• Tenant's Representative: Dana Moyles - Dana Moyles Real Estate Services

The deal is characterized by the transition of the space from McCormick & Schmick’s to Espiritu, leveraging the unique offerings of the new tenant. John Vance and Will Winter represented the interests of the landlord, while Dana Moyles facilitated the arrangement for the tenants, ensuring a smooth lease agreement that anticipates a prosperous venture for Espiritu.