Published on January 3rd, 2013 | by Nick D0
Valpo Shopping Center Acquired in $22M Deal
Inland Real Estate Corporation, an owner and operator of shopping centers located primarily in the Midwestern United States, today announced that it has acquired for its consolidated portfolio Valparaiso Walk, a 137,509-square-foot power center in northwestern Indiana for approximately $21.9 million. The 100% leased center is anchored by Bed Bath & Beyond, Marshalls, Best Buy, and Michaels, and shadow-anchored by Aldi and Menards.
“Valparaiso Walk is located in a robust trade area and is fully leased to best-in-class retailers, two attributes that support strong regional drawing power,” said Scott Carr, executive vice president and chief investment officer of Inland Real Estate Corporation. “In addition, we reinvested proceeds from recent dispositions to acquire this Class A property located in the greater Chicago metro area in a lender-driven sale.”
Valparaiso Walk is located at the intersection of Silhavy Road and LaPorte Avenue in Valparaiso, Indiana, which is within the Chicago Metropolitan Statistical Area (MSA). The property is situated within a major trade area, servicing over 100,000 people. In addition, Valparaiso University’s student population enhances the area’s consumer purchasing power.