Ali Ata Commercial Building in Chicago Damaged by Fire, Under Renovation
Industry: Real Estate
A Chicago-area commercial building owned by Ali Ata, the owner of AAIM Development, was recently damaged in a fire. However, the building is currently undergoing a full renovation that is slated to be completed by Nov. 15, 2020
Chicago, IL (PRUnderground) November 11th, 2020
The fire that impacted the commercial building, located along the Windy City’s Ashland Avenue, occurred in May 2020. According to Ata, AAIM Development is fortunately about 60% of the way to getting it completely renovated at the moment. In fact, some of his building’s tenants have already reopened. The remaining tenants are expected to be back in business and continue serving the local community before year end, according to Ata.
AAIM Development remains a leader in the property development industry. Ata said that now is the perfect time for investors to explore commercial real estate investment opportunities, as various sectors of today’s commercial real estate market are thriving.
Sectors that have especially attracted attention in recent months include data centers, which have benefited from society’s increased technological usage. This increased emphasis on technology has also sparked a demand for infrastructure, such as cell towers. Warehouses in the logistics industry are furthermore doing well.
Apartments are additionally expected to remain in demand long term, as is student housing and lodging. In addition, retail establishments that complement e-commerce and thus capitalize on multi-channel retailing are continuing to thrive in the current economic environment. Likewise, strip centers that are anchored by grocery stores are on an upswing financially. Office buildings with long leases and stable tenants are also in demand among deal-seeking real estate investors.
Ali Ata said he regularly analyzes today’s real estate market to pinpoint the best opportunities for investing. Through his proactiveness and outside-of-the-box thinking, AAIM Development is expected to continue to flourish under Ata’s leadership in the months and years ahead.
Disclaimer: The news site hosting this press release is not associated with Ali Ata or AAIM Development. It is merely publishing a paid press release announcement submitted by a company, without any stated or implied endorsement of the person, product, service, or information above.
