CHICAGO –Competition from Amazon and othere-commerce firms may have hit traditional retailers hard, but many investorsstill believe traditional shopping centers can thrive with theright mix of tenants. Newport Capital Partners FundII has just bought from Inventrust thehistoric Lincoln Village Shopping Center at Lincoln Ave. andMcCormick Blvd. on the city's North Side for $30.45 million, andplans to bring in a group of tenants that e-commerce can'tharm.
Tenants currently occupy about 65% of the 164,000-square-footcenter, and a 24,000-square-foot space rented by OfficeDepot will soon open up. But the upscale demographics ofthe surrounding area gives Newport officials a good reason foroptimism.
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