A CB Richard Ellis team of Bill Wright, Rich Frolik, George Good and Sterling Champ represented American Real Estate Holdings in negotiations with Oak Brook-based Inland Real Estate Acquisitions, whose chairman, Joe Cosenza handled the transaction.
While the retail vacancy edged above 8% across the Chicago market, the latest addition to the Inland portfolio is 100% leased. However, retail properties remain attractive despite the uptick in vacancy, Frolik says.
"Despite a slight rise in vacancies, leasing activity and investment interest in retail properties remains strong," Frolik says.
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