News
NOT-SO-BIG BOXES
June 29, 2011
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| Chicago's first Walmart Express will open next month in Chatham. The Metropolitan Planning Council gave the company a chance to explain its eight new Chicago stores slated to open in the near future at its annual luncheon on Monday. MPC's Jesse Ruiz interviewed the big box's chief administrative officer Tom Mars, who says that Walmart saw a market for small-footprint retail to match its green initiatives five years ago and is just now realizing a profit from the store in that line. The Express and Urban Market stores are meant to bring retail to underserved areas and help lower the cost of living for everyone, Tom says. | |
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| We snapped LaSalle Investment Management's Jacques Gordon and Jones Lang LaSalle's Mark Hunter after the luncheon. Jacques says LaSalle Investment Management closed on Asia Fund III this week and is now taking investments for Asia Fund IV. The firm is also marketing 55 W Monroe for sale and looking at four to five investment opportunities in the CBD. Mark's group recently took over management of the Yorktown Center mall in Lombard. |
