Inland Real Estate Corporation Announces JV Acquisition of Net-leased Grocery Store for $20.8M

Inland Real Estate Corporation IRC today announced that its joint venture with Inland Private Capital Corporation (IPCC) has acquired a 66,393-square-foot, single-tenant retail property located in the Chicago, Illinois suburb of Arlington Heights. The property is leased to Mariano's Fresh Market, Roundy's Supermarkets Inc.'s newest grocery store concept. The IRC-IPCC venture acquired the property in an all-cash transaction on March 24, 2011, from a private developer for a purchase price of approximately $20.8 million, excluding closing costs and adjustments.