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The developer of the Legacy Place business park has sold its final vacant parcel for a recorded $1.3 million to a self-storage builder that has filed plans for a 3-story, 100,101-square-foot building on the 4.74-acre property. The seller is an affiliate of Illinois-based The Inland Real Estate Group of Companies, Inc., which holds an adjacent parcel at 300 Legacy Place. Scott Filippelli, vice president-portfolio manager of affiliate Inland Mortgage Capital, LLC, said two nearby active regions create demand for the property.
On Oct. 17, more than 500 industry leaders are expected to attend the upcoming 2018 Fall Multifamily Development & Investment Conference & Expo, where the constraints to building a maximum of 10,000 apartment units is sure to be addressed. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, LLC, will be a featured speaker at the conference, sponsored by the Colorado Real Estate Journal.
The Institute for Portfolio Alternatives ("IPA") elected eight new Board Directors at its recent IPAVision 2018 conference in Chicago.The newly elected Board Members, including Dan Wagner, senior vice president of government relations for The Inland Real Estate Group, LLC, will begin their term beginning January 1, 2019.
The Inland Real Estate Group of Companies, Inc. ranked 13th in the Top Owners category and 28th in the Top Property Managers category in the publication's annual "Best of the Best" ranking.
Inland Private Capital Corporation, a sponsor of 1031 tax deferred exchanges, has sold Mariano’s Fresh Market in Arlington Heights, Illinois for $25.5 million on behalf of one of its 1031 investment programs. The sale resulted in a total return to the investors of 169 percent (calculated based on the aggregate amount of original capital invested in this property). In addition, the sale resulted in a 9.48 percent average annualized return to investors.
No matter what troubles shake the retail world, investors jump at the chance to pick up grocery stores, especially ones in relatively affluent areas.And CBRE just brokered the sale of a Mariano’s Fresh Market in Arlington Heights. Located at 802 E. Northwest Hwy., that 66,393-square foot property was sold by an affiliate of Inland Private Capital Corporation for $25.5 million.