CHICAGO—Dallas-based Netco Investments, Inc. has just purchased Fabyan Randall Plaza, a 91,415 square foot shopping center anchored by Trader Joe's and Walgreens located at 1980 W. Fabyan Pkwy. in west suburban Batavia, for $15 million. The sale is part of an ongoing effort by the seller, InvenTrust Properties, to reposition its portfolio.
“We consider this a non-strategic asset in a non-strategic market,” Dan Lombardo, director of investor relations for the Oak Brook, IL-based InvenTrust, tells GlobeSt.com.
As reported in GlobeSt.com, the investor recently announced $330 million in purchases, all of which were in top-tier markets. This group of new acquisitions, for example, includes the Stevenson Ranch Plaza in Santa Clarita Valley near Los Angeles, which was purchased for $72.5 million.
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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.
