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nland Real Estate Income Trust, a non-traded REIT with over 7 million square feet of shopping centers across the US, is undergoing a strategic review that may lead to a sale. The Oak Brook-based company owns 52 shopping centers in 24 states worth $1.4 billion and focuses on grocery-anchored properties. It's also reducing its exposure to big box retailers.

    Following the death of co-founder Daniel Goodwin and the retirement of president and CEO Mitchell Sabshon, the firm has restructured its board and executive team. They will work with a financial adviser to explore strategic alternatives, including a sale or public listing. The review may result in one of three outcomes: a complete sale, a public stock listing, or no transaction at all.

    The company has suspended distributions and share repurchases during the evaluation period. Shopping centers have become a highly sought-after asset class, with recent high-profile sales, such as the $93.2 million deal for Woodfield Village Green in Schaumburg, Illinois.