Inland Real Estate Auctions, Inc. Brokers Purchase of $14.65 Million CentrePoint Plaza.

OAK BROOK, Ill. -- Even dark Von's still attractive to national investors

Making unusual use of the expertise it has gathered as Illinois' leading auctioneer, Inland Real Estate Auctions, Inc. recently stepped into the brokerage arena, acting as the broker for the buyer of the

While Inland Real Estate Auctions, Inc. most often represents sellers in auction situations, the firm has dramatically increased its consulting services, responding to the apparent demand in the marketplace. "In this case we were contacted by Fred Techert of Kildeer, Ill. to provide a comprehensive evaluation of his properties, as well as direction on what to sell, what to buy and where," said Frank Diliberto, senior vice president of Inland Real Estate Auctions, Inc.

"We initially retained Frank Diliberto and Inland Real Estate Auctions as a consultant and advisor to our company, which eventually led to the selection of a southern Californian shopping center," said Fred Techert, the purchaser of CentrePointe Plaza. "Today, it is difficult to find an advisor with national expertise. With Inland Real Estate Auctions, we found just that."

"We were successful in completing the transaction in a matter of weeks," Diliberto said. "We accelerated the due diligence process, the financing process and used a cash, non-contingent purchase agreement to drive the sale - in much the same way we handle the timeline when representing sellers."

The center, located at 1040 S. Mt. Vernon Ave. in the rapidly growing Colton, Calif. market, was purchased from AI HOA Investment Corporation, a Korean company with operations in Irvine, Calif. The center includes a 66,000-square-foot dark Von's store. Half of this space is available for rental. The lease for the other 33,000 square feet is under current negotiations. An out-parcel on the property could be used for new construction of a 3,000-square-foot restaurant or retail store, which would add to the property's current $1.2 million in net operating income.

Inland Real Estate Auctions, Inc. (www.inlandreauctions.com) is part of The Inland Real Estate Group of Companies, Inc., which comprises independent real estate investment and financial companies doing business nationwide. With more 35 years of experience focusing on auctions, commercial real estate brokerage, investment, property management, land development, acquisition and mortgage lending, Inland is one of the nation's largest privately-held real estate companies. Inland's national headquarters is in Oak Brook, Ill.