Inland Unit Gets New CEO

OAK BROOK, IL—One of the most important subsidiaries of the Oak Brook-based Inland Real Estate Group of Companies, Inc. has just picked a new chief executive officer. The Inland Real Estate Investment Corporation, which sponsors a set of real estate investment trusts, says that Mitchell A. Sabshon will take over as CEO in mid-August, just after he moves to Chicago from the Phoenix area, where most recently he was chief operating officer of Cole Real Estate Investments. Sabshon will succeed Robert Parks, the company chairman who was serving as interim CEO after Brian Conlon retired from the position in January.

IREIC has sponsored REITs such as the Inland Real Estate Income Trust Inc., the Inland American Real Estate Trust, Inc., which has around $11 billion in assets, and the Inland Real Estate Corp., which concentrates on retail properties in the Midwest. Company officials say Sabshon will help Inland continue long-term strategies to develop new investment products, expand into new markets and broaden their brand and market share.