Property Types Retail
Mid-America Closes Sale with Target at Wilson Yard Redevelopment in Chicago
Oct 28, 2008

Mid-America Asset Management Inc. announced that Target closed on the sale of 132,000 square feet at the Wilson Yard mixed-use redevelopment that is under construction in Uptown Chicago. The retailer plans to open in fall 2010 along with 20,000 square feet of
specialty retail. Mid-America represented the seller, Chicago-based Holsten Real Estate Development Corp., which is the lead developer of the five-acre project. Gershman Brown Crowley Inc. represented Target, which purchased the site for an undisclosed amount.  The $150 million Wilson Yard development is situated on the site of a former Chicago Transit Authority Rail Yard that was an operation and maintenance facility for the railroad system.

 
Recent Retail Headlines
Bankrupt Filene's Basement Assets Snapped Up by Men's Wearhouse in $67M Auction
June 09, 2009
Clothing retailer Men's Wearhouse has emerged victorious from a feverish nine-hour auction of assets belonging to off-price chain Filene's Basement, which fell victim to the retail market's downward spiral and filed for Chapter 11 bankruptcy protection in early May, just two weeks after its purchase by Buxbaum Group affiliate FB Acquisition II. Acting through its affiliate, K&G Acquisition Corp., Men's Wearhouse put forth the winning bid of $67 million for 17 to 20 of Filene's store leases, as well as the leases on the company's Massachusetts corporate headquarters and distribution center, its Maryland storage facility and-- possibly most important--the Filene's Basement trade name.
Economic Update - Starwood Eyes Distressed Sector with $500M Fund
June 08, 2009
Yet another deep-pocketed real estate entity has jumped into the grave-dancing game—only please, don’t call it that, but rather strategic investment in distressed properties. The player is a newly formed investment company called Starwood Property Trust Inc., a creation of Starwood mogul Barry Sternlicht, which filed with the Securities and Exchange Commission late last week for a public offering that aims to raise half a billion dollars to do the distressed-property boogie. It will invest in not only physical properties, but mortgages and mortgage-backed securities.
Economic Update - Retailers See May Malaise
June 05, 2009
May comparable-store sales numbers are filtering down from various retailers, and the results aren't inspiring confidence in the prospects for recovered consumer spending. Actually, most analysts expected average retail same-store sales to decline in May 2009 when compared with May 2008, but the trouble was they declined more than expected.
 
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