Inland Private Capital Corporation Announces Sale of Fox River Commons Shopping Center in Wisconsin
Alyssa Campbell
Inland CommunicationsMarch 16, 2015
Oak Brook, Ill. – Inland Private Capital Corporation (“IPCC”) today announced the sale of the Fox River Commons Shopping Center, a 78,977-square-foot retail destination located in Grand Chute, Wisconsin, for a gross sale price of $12,200,000. IPCC, through its subsidiary which serves as asset manager, facilitated the sale of the property on behalf of one of its 1031 investment programs.
Fox River Commons Shopping Center is ideally located in the Fox River’s major retail trade area, at the highly trafficked intersection of Casaloma Drive and Collage Avenue. Tenants at the center include Bed Bath & Beyond, Barnes & Noble and Old Navy.
“This investment was very successful, and we were pleased to negotiate 10-year lease extensions with Barnes & Noble and Bed Bath & Beyond to enhance the positioning of the asset for sale,” commented Rahul Sehgal, chief investment officer of IPCC. “We purchased the property in October 2002 and it performed as expected, providing significant total return for our investors and a steady income stream. Many have elected to reinvest a significant portion of the proceeds into another property owned by a different Inland-sponsored program.”
The shopping center was sold at a premium to the original acquisition price. Coupled with cash flow generated during the holding period, the sale resulted in a total return to investors of 191.45 percent (calculated based on the aggregate amount of original capital invested in the property).
About Inland Private Capital Corporation
Inland Private Capital Corporation, based in Oak Brook, Ill., offers replacement property investments for persons participating in a 1031 tax deferred exchange, as well as opportunities for accredited investors who are seeking a real estate investment. Inland Private Capital Corporation is a part of the Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). As of December 31, 2014, IPCC had sponsored 166 private placement programs. The 166 private placement programs include 418 properties, with over 21.88 million square feet of gross leasable area, for an aggregate offering price of more than $4.384 billion.
This communication is neither an offer to sell, nor a solicitation to buy any security sponsored by Inland Private Capital Corporation, which can be made only by the respective private placement memorandum and sold only by broker/dealers authorized to do so.
Fox River Commons Shopping Center is ideally located in the Fox River’s major retail trade area, at the highly trafficked intersection of Casaloma Drive and Collage Avenue. Tenants at the center include Bed Bath & Beyond, Barnes & Noble and Old Navy.
“This investment was very successful, and we were pleased to negotiate 10-year lease extensions with Barnes & Noble and Bed Bath & Beyond to enhance the positioning of the asset for sale,” commented Rahul Sehgal, chief investment officer of IPCC. “We purchased the property in October 2002 and it performed as expected, providing significant total return for our investors and a steady income stream. Many have elected to reinvest a significant portion of the proceeds into another property owned by a different Inland-sponsored program.”
The shopping center was sold at a premium to the original acquisition price. Coupled with cash flow generated during the holding period, the sale resulted in a total return to investors of 191.45 percent (calculated based on the aggregate amount of original capital invested in the property).
About Inland Private Capital Corporation
Inland Private Capital Corporation, based in Oak Brook, Ill., offers replacement property investments for persons participating in a 1031 tax deferred exchange, as well as opportunities for accredited investors who are seeking a real estate investment. Inland Private Capital Corporation is a part of the Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). As of December 31, 2014, IPCC had sponsored 166 private placement programs. The 166 private placement programs include 418 properties, with over 21.88 million square feet of gross leasable area, for an aggregate offering price of more than $4.384 billion.
This communication is neither an offer to sell, nor a solicitation to buy any security sponsored by Inland Private Capital Corporation, which can be made only by the respective private placement memorandum and sold only by broker/dealers authorized to do so.