LINCOLNSHIRE, IL-Retail Properties of America Inc. of Oak Brook, IL continues its march toward disposing of $450 million to $550 million assets by year-end with its most recent sale of the 818,686-square-foot Aon Hewitt campus. The REIT sold the property for $148 million to an undisclosed buyer, and will use the proceeds to pay down $117 million worth of mortgage dept and accrued interest that encumbered the campus.

According to SEC filings from earlier this year, RPAI was successful in renewing and extending Aon Hewett's lease for the property at 100 Half Day Rd. Following the sale of the Aon Hewitt Property, RPAI continues to own the remaining 343,000 square foot Aon Hewitt East Campus, which is currently 100% leased to Aon Hewitt.

The campus is one of a portfolio of properties RPAI hopes to sell by year-end. To date, the REIT has sold $414 million worth of core and non-strategic assets. Since October 2012, the company disposed of $185 million, which include four of the remaining Mervyns stores.

“The culmination of the Aon Corporation lease extension and the subsequent sale of this property, over the past four months, highlights our active approach to asset management and our continued ability to achieve our stated strategic initiatives that we set out earlier in the year,” stated Shane Garrison, chief operating officer and chief investment officer of RPAI in a press release. “We are pleased with the team’s progress toward meeting our target of $450 million - $550 million of asset sales by the end of 2012.”