(For more retail coverage, click GlobeSt.com/RETAIL.)
FORT WAYNE, IN-In a move that will relinquish Youngstown,OH-based Cafaro Co., of some of its non-core assets, the retaildevelopment company put five retail centers out to bid. Emerging asthe taker, locally based Equity Investment Group has gained controlof the 755,000-sf retail portfolio, which includes propertieslocated in Indiana, Pennsylvania and West Virginia.
Ben Wineman, vice president with Oakbrook Terrace, IL-basedMid-America, represented Cafaro in the sale. He tells GlobeSt.comthat the centers were selected based on Cafaro's operationalstrategy, which consists of having an open-air center near acompany-owned regional mall.
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