The 58-year-old brings more than two decades of experience, most recently as VP of real estate with American Blue Ribbon Holdings LLC, the entity which purchased VICORP Restaurants Inc.'s assets from Chapter 11 bankruptcy.

"Frank brings extensive experience in supporting clients that are right-sizing, trying to decrease overhead costs to reinvest back into their business, or even undergoing Chapter 11 bankruptcy reorganization," Shawn Mobley, EVP and managing director of Grubb's Chicago offices, says. Scherer's work with VICORP including the restructuring of the lease portfolio for the company, which owned restaurants including Bakers Square and Village Inn. Previous to work as VP of real estate, he had served as VP of franchise operations and development at the company.

"I've worked with Ted and Steve in the past in reworking VICORP's real estate footprint, and the success we enjoyed as a team is something I would like to repeat on behalf of other companies in need of our services," says Scherer, also a member of the International Council of Shopping Centers. "In this economic climate in particular, clients need professionals with portfolio restructuring and Chapter 11 experience who have the skills to help them achieve their goals."