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EXCLUSIVE: Cafaro Sells 755,000-SF Retail Portfolio

FORT WAYNE, IN-Equity Investment Group acquires a 755,000-sf retail portfolio from Ohio-based Cafaro Co. The five properties in the sale are located in Indiana, Pennsylvania and West Virginia.

By Dana Dubriwny | Updated on April 27, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

FORT WAYNE, IN-In a move that will relinquish Youngstown, OH-based Cafaro Co., of some of its non-core assets, the retail development company put five retail centers out to bid. Emerging as the taker, locally based Equity Investment Group has gained control of the 755,000-sf retail portfolio, which includes properties located in Indiana, Pennsylvania and West Virginia.

Ben Wineman, vice president with Oakbrook Terrace, IL-based Mid-America, represented Cafaro in the sale. He tells GlobeSt.com that the centers were selected based on Cafaro’s operational strategy, which consists of having an open-air center near a company-owned regional mall.

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