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Smithfield sells five Chicago properties
Smithfield Properties has sold five properties in Chicago to the Acadia Realty Trust for $150 million, reported the deal’s broker, Mid-America Real Estate Corp. The properties were: • North Kingsbury Center on the corner of North Avenue and North Kingsbury Street, with tenants including Old Navy, Pier 1 Imports, Blick Art Materials, and Modani Furniture. -
Shoppers keep spending in check in August
Retail sales fell more than expected in August after a strong June and a relatively flat July. The National Retail Federation said that retail sales, excluding automobiles, gasoline stations and restaurants, were down 0.3% over July. On a year-over-year basis, however, NRF calculates that retail sales increased 4.1%. The slowdown in August was broad-based and, notably, there was a drop-off in non-store sales, NRF noted. Clothing sales increased 0.7% in August, driven by back-to-school shopping.

