CHICAGO—Developers still remain a bit shy of creating new retail, and this lack of new supply has made investors eager to purchase existing stores in solid submarkets. Walnut Creek, CA-based Loja Real Estate has just purchased a portfolio of four Chicago grocery store properties from Dominick’s Finer Foods, LLC, for about $95 million. The four properties are anchored by either a Whole Foods or a Mariano’s Fresh Market, the hottest grocer in the region, and sit within dense and relatively affluent neighborhoods.

“We like the dynamic of the Chicago market, especially in terms of its potential job growth,” Tom Engberg, the chief executive officer of Loja Real Estate, tells “And these stores are not just in densely populated areas, but they are in areas which also have a limited supply of options.”

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