"We see upside potential in MarketFair through re-merchandising and strengthening the existing tenant roster," explains Tom Falatko, vice president of acquisitions at Madison Marquette. Frank Orioli, director of acquisitions, Principal Real Estate Investors, adds the companies were attracted to the site due to the strong tenants and prime location.

Madison Marquette, an affiliate of international investment firm Capital Guidance Corporation, oversees more than 28 million sf of regional malls, specialty centers, community centers, urban villages and other retail and mixed-use properties throughout the US, maintaining offices in Minneapolis, Philadelphia, Cincinnati, Nashville, New York, San Francisco, Los Angeles and Irvine, CA.

Principal Global Investors is a diversified asset management organization and a member of the Principal Financial Group, with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services. PGI manages more than $108 billion in assets for retirement plans and other institutional clients. Principal Global Investors' dedicated real estate group, Principal Real Estate Investors, manages or subadvises over $24 billion in commercial assets.