Amid headlines of retailer bankruptcies and shuttered stores, supermarkets are seen as a plus by the commercial real estate sector. According to Joe Cosenza, vice chairman of The Inland Real Estate Group, LLC, successful grocery chains — including national and regional operators like Kroger, Whole Foods Markets and Sprouts Farmers Market — know that they must cater to customers and the overall shopping experience or risk losing market share.
“No one can buy an ice cream cone, get their laundry, put gas in their car or check out a liquor store on Amazon,” said Joe Cosenza, vice chairman with The Inland Real Estate Group, LLC in Oak Brook, Illinois. “These are the kinds of tenants that tag along with all good grocery stores.” Cosenza said that some owners might need to think creatively and consider reducing the amount of retail to drive growth.
In the first part of this interview, Joe Cosenza, vice chairman of The Inland Real Estate Group, LLC and president of Inland Real Estate Acquisitions, LLC, gives us his take on what it takes to make it 50 years. After the break, he shares what retailers must do to survive in light of all of the changes and finally, he gives us his vision of the future of retail real estate.
According to Joe Cosenza, vice chairman of The Inland Real Estate Group, LLC and president of Inland Real Estate Acquisitions, LLC, strong grocery store operations are a major draw for a center, especially those that are e-commerce resistant.
In an exclusive video interview from RECon 2018, Joe Cosenza, vice chairman of The Inland Real Estate Group, LLC and president of Inland Real Estate Acquisitions, LLC, levels some frank advice toward retail brands that believe they can live without the internet. (Spoiler alert: They’re wrong!)
Oak Brook, Ill. – Inland Real Estate Acquisitions, LLC announced today that it negotiated and closed the purchase of the Banner Health Medical Office Building, located in Phoenix, Arizona. Sharon Anderson-Cox, senior vice president of Inland Real Estate Acquisitions, LLC, (“Inland”), completed the deal, with assistance from David Neboyskey, vice president and associate counsel of The Inland Real Estate Group, LLC, Law Department, on behalf of an Inland affiliate.
Inland Real Estate Acquisitions, LLC has facilitated the purchase of the Banner Health Medical Office Building, located in Phoenix. The transaction marks Inland’s third acquisition in Arizona this year.
Inland Real Estate Acquisitions, LLC has facilitated the purchase of Banner Health Center, a medical office building in Phoenix, on behalf of an Inland affiliate. The recently built property is located at 4375 E. Irma Lane and features 29,350 square feet of Class A medical office space, with 30 exam rooms.
Oak Brook, Ill. – Inland Real Estate Acquisitions, LLC (“Inland Acquisitions”) announced today that it negotiated and closed the purchase of eight multifamily properties located throughout the South and Western United States on behalf of Inland-related parties during the first half of 2018. The acquisitions total 2,095 units for a total cumulative purchase price of approximately $353 million.
Oak Brook, Ill. – Inland Real Estate Acquisitions, LLC announced today that it negotiated and closed the purchase of two Swagel Wootton Hiatt Eye Centers, located in Mesa and Chandler, Arizona, approximately 20 miles east of Phoenix. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, LLC, completed the deal, with assistance from David Neboyskey, vice president and associate counsel of The Inland Real Estate Group, LLC, Law Department, on behalf of an Inland affiliate.
