X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-Grubb & Ellis has brought in Frank Scherer, the former head of VICORP’s real estate, as VP of its Retail Group. In his new role, Scherer will work restructuring real estate holding for national and local clients during their bankruptcy proceedings or other reorganizations.

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.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.