Steady Growth Ahead for US Retail

CHICAGO—As reported in GlobeSt.com last week, Inland Real Estate Acquisitions, Inc. had a busy October. The Oak Brook, IL-based company facilitated the acquisition by Inland-related parties of 13 mostly retail properties located across the nation. And although most are not in what are typically considered the top core markets, today Joe Cosenza, company president and vice chairman of The Inland Real Estate Group, Inc. tells GlobeSt.com that he believes that all “were some of the best income-producing properties in their markets.” 

One of the most important of the new acquisitions, for example, is Settlers Ridge, a 472,572 square foot property anchored by Giant Eagle Market District and located in Pittsburgh. “That anchor is doing over $100 million in sales,” Cosenza points out. And Cinemark Theatres at Settlers brings in about $10 million, or about $200 per square foot. Furthermore, the LA Fitness at the center attracts about 1,200 people each day.