June 1, 2016 | by DI Wire
Inland Private Capital Corporation, a sponsor of 1031 tax deferred exchanges, sold Mariano’s Fresh Market in Elmhurst, Illinois, for $25 million. IPCC, through its subsidiary which serves as asset manager, facilitated the sale of the property on behalf of one of its 1031 investment programs.
Located at 678 North York Road in Elmhurst, about 16-miles west of Chicago, the property contains a total land area of approximately 5.772 acres, with one single-story, stand-alone 75,922-square-foot retail building.
The property, which was constructed in 2013, is 100 percent leased to Roundy’s Supermarkets, Inc. On December 18, 2015, Kroger Co. purchased Roundy’s which includes such banners as Copp’s, Pick n Save and Mariano’s Fresh Market.
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