Huntington, N.Y. -- Oak Brook, Ill.-based Inland Private Capital Corp. announced Wednesday the $40.2 million sale of Huntington Square Plaza, a grocery-anchored shopping center located in Huntington, N.Y., on Long Island.
Toronto-based RioCan Holdings purchased the 116,221-sq.-ft. center, which Inland Private Capital Corp. offered to a group of private tenant-in-common investors in 2004.
“Huntington Square has performed in line with projections from day one, producing steady returns for the tenant-in-common investors,” said Rahul Sehgal, senior VP Inland Private Capital Corp. “Earlier this year, the investors elected to sell the property rather than refinance. We’re pleased that we were able to arrange a profitable sale for these investors, adding another successfully completed program to our track record.”
Jones Lang LaSalle’s Capital Markets group facilitated the sale of the property, which is 100% leased to Best Buy and Stop & Shop.