REAL ESTATE

Principal, chairman of Inland Real Estate Group honored with Lifetime Achievement Award

BY Melonie Messina

Ellicott City, Md. — Investment Program Association announced it is honoring Daniel L. Goodwin, principal and chairman of Inland Real Estate Group with its Lifetime Achievement Award. The award was recently presented at the IPA Annual Conference.

"Dan Goodwin is the embodiment of the IPA's Lifetime Achievement Award, and of the Association itself," commented Kevin Hogan, president and CEO of the IPA. "Our ongoing mission is to lead the Direct Investments industry through advocacy, collaboration and education. Perhaps nobody in our industry has done more over their lifetime – both professionally and personally – to support those ideals. It is truly an honor to recognize Dan for a lifetime of accomplishments and leadership."

Goodwin began his career as a Chicago Public School teacher and in 1967 started doing real estate investments part-time with fellow school teachers, Joe Cosenza, Bob Baum, and Bob Parks. The business grew because of its early success and Inland was incorporated in 1968. It began offering investments through limited partnerships. By 1979 the company owned 40,000 apartment units and began using broker dealers to raise monies, altering their format from an Illinois 4G Exemption to a Regulation D security. Inland offered its first public syndications and investments nationwide in 1985, leading to increased growth and was ranked as the 12th largest privately held company in the Chicagoland area by Crain's Chicago Business in 1986. Eventually, Inland offered various additional investment formats, such as: TICs, LLCs, DSTs, and 1031 exchanges.

Inland's capital raising arm, Inland Real Estate Investment Corporation and its affiliates have raised over $21 billion in capital, sponsored 690 investment programs, and owned and managed retail, office, industrial and apartment properties in 49 states. With more than 40 years of experience in real estate investing, commercial real estate brokerage, real estate securities, land development, construction and mortgage banking and lending, Inland is one of the nation's largest commercial real estate and finance groups. Inland is the only real estate company that is a two-time recipient of the Better Business Bureau's Torch Award for Marketplace Ethics.

"It is an honor to receive the IPA's Lifetime Achievement Award," commented Dan Goodwin, Principal and Chairman of Inland. "Inland has been a founder and a supporter of the IPA since it originated in 1985. In fact, two Inland executives, Bob Parks and Martel Day, were original members of the IPA. Today, the organization continues to thrive under Kevin Hogan's leadership by advocating, educating, informing and providing essential services for the Direct Investments industry."

Goodwin is a member of the National Association of REALTORS® President's Circle, the National Association of REALTORS® Hall of Fame, the Illinois Association of REALTORS® Hall of Fame, and The Chicago Association of REALTORS® Hall of Fame. He has developed thousands of housing units in the Midwest, New England, Florida, and the Southwest. He is also the author of two nationally recognized real estate reference books for the management of multi-family residential properties. Goodwin served for 10 years on the board of the Illinois Housing Development Authority (IHDA) Trust Fund.

He was an advisor for the Office of Housing Coordination Services of the State of Illinois and was a founding member of the Illinois State Affordable Housing Conference. He also completed the definitive DuPage County Affordable Housing Study as Chairman of the DuPage County Affordable Housing Task Force. In 1994, Goodwin founded New Directions Housing Corporation, a not-for-profit developer of affordable housing for low income residents throughout Illinois and has won the National Association of REALTORS® Good Neighbor Award. Goodwin has also been Chairman and Vice Chairman of Northeastern Illinois University, Benedictine University and Springfield College.

"The IPA provides effective representation and advocacy for our industry," Goodwin stated. "I am proud to be associated with the IPA."

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REAL ESTATE

PREIT finishes Moorestown Mall revamp

BY Melonie Messina

Moorestown, N. J. — PREIT announced the execution of more than 40,000 sq. ft. of new leases and the completion of its renovation to the dining court at Moorestown Mall located in Moorestown, New Jersey. The one million-sq.-ft. property is anchored by Lord & Taylor, Macy’s, Boscov’s and Sears. New retailers include: Yard House, Starbucks Coffee, Liberty Supply Co., Toy Genius, Eye Deals, Yankee Candle, Verizon Wireless and H&M.

The dining court was redesigned to offer an upgraded environment and amenities complete with a mix of new seating, mobile device charging stations, media wall, enhanced lighting, wayfinding signs and new restroom facilities, as well as a family restroom. In addition patrons will find an expanded selection of food options with the opening of Moon Dog Cafe, Brooklyn Pizza, Suki Hana Japan and Suki Hana Sushi along with existing tenants.

"I'm pleased to mark these accomplishments and to see the continued evolution of Moorestown Mall," said Joseph F. Coradino, CEO for PREIT. “Through forward-thinking strategic development and leasing, we are unlocking the value of the asset while giving shoppers an enhanced shopping experience. This project is yet another example of PREIT's success in improving the quality of our portfolio and strengthening asset value through targeted property-level remerchandising strategies.”

Moorestown Mall has been undergoing an extensive remerchandising plan since 2012, adding South Jersey’s only Regal RPX cinema, dining destinations which include celebrity chef-inspired restaurants Distrito by Jose Garces and Dave Magrogan's Harvest Seasonal Grill and Wine Bar, as well as "Boutique Row" fashion boutiques Erdon, Zeyzani and Never Too Spoiled, along with Orangetheory Fitness and Rizzieri Salon and Spa – flagship location.

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DEVELOPMENT/REDEVELOPMENT

The Shops at Merchants Walk development connects mall district with downtown

BY Melonie Messina

Huntsville, Ala. — RCP Companies announced the opening of the first phase of The Shops at Merchants Walk located in Huntsville, Alabama. The property features 90,000-sq. ft. of shopping and dining experience, including the only Whole Foods Market in North Alabama along with high-end shopping options. The development extends Parkway Place retail node and connects it to the Central Business District.

“The Shops at Merchants Walk is a catalyst development that connects new retailers to the Huntsville Central Business District, affluent Huntsville neighborhoods, North Alabama’s regional medical hubs and beyond,” states Max Grelier, executive VP for RCP Companies. “It is with great anticipation that we finally welcome Whole Foods to Huntsville. When coupled with other sought-after retailers, the center fills a void for high-end shopping and polished casual dining options that has been long overdue in this area.”

The tenant line-up is nearing completion at 90% occupancy. In addition to the Whole Foods Market, other retailers opening include: lululemon athletica showroom, Farm Burger, Spa Sydell, Mountain High Outfitters, Maki Fresh, Orangetheory Fitness, Local Taco, The Masters Aveda Salon and DressUp Boutique.

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