NorthStar is also aligning itself with CB Richard Ellis Inc. to provide local, regional and national brokerage services, and with Deloitte Consulting for technological background and support for e-commerce and software solutions. NorthStar also has offices in Oak Park, IL.
In a prepared statement, NorthStar's president Gene G. Wright says the new company's goal is to help retailers "eliminate inefficiencies throughout the entire real estate transaction process."
Commercial Net Lease Realty owns 270 properties in 36 states with a 99% occupancy rate. The firm's portfolio focuses on big-box specialty retailers, such as Eckerd drug stores which account for about 10% of CNLR's rentals.
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