Inland steps up retail acquisitions in 2017
Always in the market for a quality grocery-anchored center, Inland Real Estate Acquisitions slowed down in 2015 and 2016, purchasing just 116 properties over a 24-month period. But the Oak Brook, Ill.-based company picked up the pace in 2017 with 87 deals over just 12 months.
Fifty-seven of the acquisitions were grocery-anchored centers, 16 were residential, and 14 were office buildings. Inland paid a total of $1.4 billion for what added up to 6.4 million sq. ft. of space in 24 states.
“2017 was a great year, and 2018 will be even better as it commemorates Inland’s 50th Anniversary,” said Inland president Joe Cosenza. “Since Inland’s inception, we have bought more than $45 billion of diversified commercial real estate.”
CSA opens nominations for ‘10 under 40’ retail real estate stars
Chain Store Age has launched its annual search for 10 future leaders in real estate whom we dub “retail stars.” Honorees will be featured in the May/June 2018 issue of CSA with bonus distribution at the International Council of Shopping Centers’ RECon event in Las Vegas.
The award recognizes people under the age of 40 who are forging new trails in retail real estate, whether from the tenant (retail) or the landlord (shopping center company) side.
Study details the most valuable REIT-owned malls in U.S.
Two of the nation’s most valuable shopping centers are located in Las Vegas.
With a total asset value of $3.06 billion, Fashion Show in Vegas came in at No. 5 in a ranking by boutique research firm Boenning & Scattergood of the nation’s most valuable shopping malls, reported CNBC. The Forum Shops at Caesar’s Palace came in at No. 7, valued at $2.79 billion.
Ala Moana Center, in Honolulu, took the top spot, with a total asset value of $5.74 billion, the report said.
Click here to see the list.