CHICAGO—The recession pushed a number of retailers into bankruptcy, but the recent $13.8 million sale of seven properties in the region leased to Giordano's Restaurant and Pizzeria, bought out of bankruptcy in November 2011, shows that investors don't have to be put off by troubles suffered by businesses due to the downturn.
“A lot of restaurants got caught when the economy turned,” Ian Schroeder, senior vice president of CBRE, tells GlobeSt.com. This includes normally solid businesses with good, even famous brand names that should help give investors confidence in their long-term viability. And many of these businesses emerge even stronger because bankruptcy allows them to jettison debt obligations.
Schroeder, along with Maurice Nieman, also senior vice president, and associate Matt Dobie, as well as Chicago-based executive vice president Richard Frolik and first vice president Michael Kaider represented the seller, Origin Capital Partners and the buyer, STORE Capital.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
