The property involved in this transaction is a retail asset located at 17 North State Street, Chicago. It encompasses a total area of 10,000 square feet and is situated in a market that has experienced a vacancy rate of 26.59% in 2023. This location was previously occupied by Express and is set to be transformed into a Gap factory store.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not specified
• Address: 17 North State Street
• Market: Chicago
• Square Footage: 10,000 SF
• Landlord: Shweta Parthasarathy - Marc Realty
• Tenant: Richard Dickson - Gap
• Brokers: David Gustaveson, John Vance & David Stone - Stone Real Estate

This lease transaction marks Gap's establishment of a new location in Chicago, indicating potential growth within the retail corridor. The deal involves key industry players, including Shweta Parthasarathy representing the landlord, and Richard Dickson representing the tenant, with broker representation by David Gustaveson, John Vance, and David Stone from Stone Real Estate.