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ON THE UP AND UP

ON THE UP AND UP
Inland Real Estate rental rates, occupancy, and same-store NOI  all trended positive during Q1, despite the loss of Borders. This shows underlying strength in the firm's portfolio, Inland CEO Mark Zaltoris says.
 
Mark Zaltoris
Inland's JV with PGGM  helped it acquire three new assets: a 90k SF Bed Bath & Beyond-anchored center in the South Loop, a 66k SF grocery-anchored property in Arlington Heights, and a 16-property portfolio of net-leased assets. Inland execs expect this will be a transitional year  for retailers as some make an exit and others that were stagnant re-enter the market for new space. Inland will soon announce six new leases with a major discount fashion retailer throughout the Chicago area. With occupancy at 94%,  the retail REIT expects to be able to raise rents as tenants turn over.
 
Bisnow Stooge JCHI
 
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