OAK BROOK, IL—Against the backdrop of a thriving retail market, Inland Acquisitions Inc., part of the locally-based Inland Real Estate Group, had a milestone year. With total YTD acquisitions of $1.52 billion, the firm has crossed the $40-billion mark in total buys since inception, and as vice president Mark Cosenza explains in this exclusive interview with GlobeSt.com, the finish line on that milestone was crossed virtually with no help from mega-portfolio buys. Here's how he sees the market dynamics behind that record:
GlobeSt.com: How do you characterize the retail market at this point in the cycle?
Mark Cosenza: I like this question because we have a really good, well-defined cycle going on. We hit the great recession in 2008 and through 2009 the economy was truly badly wounded. REITs held their cash and sat on the sidelines, first because they weren't sure what they should do and there was no debt market to speak of. Also, of course, retailers themselves were having problems.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
