PRESS ROOMNEWS RELEASE
Inland Real Estate Acquisitions, LLC, Closes the Purchase of Four Jewel-Osco Stores
Nicole SpreckInland Communications
Oak Brook, Ill. – Inland Real Estate Acquisitions, LLC, announced today that it negotiated and closed the purchase of four Jewel-Osco stores located in the Chicago suburbs, specifically Arlington Heights, Glenview, Naperville and Stickney, totaling 248,622 square feet. Joe Cosenza, vice chairman of The Inland Real Estate Group, LLC and president of Inland Real Estate Acquisitions, LLC, completed the deal, with assistance from Gina LaMantia, managing counsel for Charles J. Benvenuto, P.C., on behalf of an Inland affiliate.
All four Jewel-Oscos are grocery and pharmacy stores with new 20-year leases. They are located at 1860 South Arlington Heights Road, Arlington Heights, Illinois with 61,475 square feet; 1340 Patriot Boulevard, Glenview, Illinois with 63,523 square feet; 1759 West Odgen Avenue, Naperville, Illinois with 64,977 square feet; and 7122 West 40th Street, Stickney, Illinois with 58,647 square feet.
“These Jewel-Oscos are staples in their community, with sales ranging from $27 million to $33 million per year for each store,” said Cosenza. “They are well-established and in prime locations with an average three-mile household income of $108,000 and an average three-mile population of 128,000 customers for all four stores.”
To date, Inland Real Estate Acquisitions, LLC, has facilitated more than $45 billion of purchases including apartments, single-tenant properties, medical office buildings and which include a total of more than $27 billion in retail properties.
About Inland Real Estate Acquisitions, LLC
Inland Real Estate Acquisitions, LLC assists in identifying potential acquisition opportunities, negotiates acquisition-related contracts and acquires real estate assets for the various entities that are 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”). For additional information, please refer to Inland’s website at www.inlandgroup.com.