OAK BROOK, Ill., Jan. 19, 2017 /PRNewswire/ -- Retail
Properties of America, Inc. (NYSE: RPAI or the "Company")
announced today that the office property formerly known as Zurich
Towers will now be named Schaumburg Towers. Additionally, the
Company has signed two new leases with Great American Insurance
Group and Swiss Re for approximately 78,000 square feet.
Schaumburg Towers is an office building with twin 20-story
towers totaling approximately 895,000 square feet, located in
Schaumburg, Illinois. The property
is situated adjacent to Woodfield Mall, a Class A shopping mall
easily accessible from two major highways. To date, the Company has
released approximately 387,000 square feet in collaboration with
marketing agents Steven Kling and
David Florent of Colliers
International.
Great American Insurance Group is engaged primarily in property
and casualty insurance, focusing on specialized commercial products
for businesses, and the sale of traditional fixed and fixed-indexed
annuities. Great American Insurance Group will occupy approximately
44,000 square feet, and is expected to take possession of their
space in the fourth quarter of 2017. Great American Insurance Group
was represented by Mark Kolar of
JLL.
Swiss Re is a leading wholesale provider of reinsurance,
insurance and other insurance-based forms of risk transfer. Dealing
directly, and working through brokers, its global client base
consists of insurance companies, mid-to-large-sized corporations
and public sector clients throughout the world. Swiss Re will
occupy approximately 34,000 square feet and is expected to take
possession of their space in the second quarter of 2017. Swiss Re
was represented by Sven Sykes and
Thomas Volini of Colliers
International.
"These new leases are a testament to the strength of the
northwest suburban Chicago
sub-market, and the location of this property, to attract credit
tenants at market rates," stated Shane
Garrison, executive vice president, chief operating officer
and chief investment officer. "We will continue to work with our
broker, Colliers International, to aggressively lease up the
property while seeking the right buyer to take possession of the
asset."
ABOUT RPAI
Retail Properties of America, Inc. is a REIT and is one of the
largest owners and operators of high quality, strategically located
shopping centers in the United
States. As of September 30,
2016, the Company owned 174 retail operating properties
representing 26.5 million square feet. The Company is publicly
traded on the New York Stock Exchange under the ticker symbol RPAI.
Additional information about the Company is available at
www.rpai.com.
CONTACT INFORMATION
Media Contact:
Kimberly Freely
AVP, Public Relations & Communications
630-634-4319
freely@rpai.com
Investor Contact:
Michael
Fitzmaurice
VP, Capital Markets & Investor Relations
630-634-4233
fitzmaurice@rpai.com
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SOURCE Retail Properties of America, Inc.