Press Releases
Marcus & Millichap Arranges $4.25M Sale of Chipotle and 7 Brew Properties in Valparaiso, Indiana
April 13, 2026
VALPARAISO, Ind., April 13, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of adjacent Chipotle and 7 Brew properties in Valparaiso, Indiana. The properties sold for $4,247,000.
“The current owner of this shopping center redevelopment, with whom we successfully transacted the purchase in 2024, has continued to execute on its strategy,” said Nicholas Kanich, managing director investments. “With the sale of these two single-tenant assets, only two final parcels remain to complete the business plan. We are honored to have advised them on this larger project in Valparaiso.”
Kanich and Mitchell Kiven, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, an Indiana-based retail developer and operator, and procured both buyers directly, a Nevada-based investment and development firm and an Indiana-based investor and residential developer.
Chipotle is located at 2803 Calumet Ave. and 7 Brew is located at 2805 Calumet Ave. Both are newly constructed retail buildings secured with new 15-year leases. The properties are surrounded by national retailers including Starbucks, Burger King, a high-traffic YMCA and a Strack & Van Til supermarket across Calumet Avenue.
“The current owner of this shopping center redevelopment, with whom we successfully transacted the purchase in 2024, has continued to execute on its strategy,” said Nicholas Kanich, managing director investments. “With the sale of these two single-tenant assets, only two final parcels remain to complete the business plan. We are honored to have advised them on this larger project in Valparaiso.”
Kanich and Mitchell Kiven, investment specialists in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, an Indiana-based retail developer and operator, and procured both buyers directly, a Nevada-based investment and development firm and an Indiana-based investor and residential developer.
Chipotle is located at 2803 Calumet Ave. and 7 Brew is located at 2805 Calumet Ave. Both are newly constructed retail buildings secured with new 15-year leases. The properties are surrounded by national retailers including Starbucks, Burger King, a high-traffic YMCA and a Strack & Van Til supermarket across Calumet Avenue.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
