Inland Private Capital announces sale of Huntington Square
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.
Poll finds consumers prefer organic foods
ANN ARBOR, Mich. and WASHINGTON — When given a choice, American consumers prefer to purchase organic foods, according to the Thomson Reuters-NPR Health Poll. The survey found that58% of Americans say they choose organic over conventionally produced foods when they have the opportunity, a number that spikes higher among both young and highly educated respondents. Sixty-three percent of respondents under the age of 35 prefer organic foods, as do 64% of those with a bachelor’s degree or more.
Among those who prefer organic foods, 36% said they do so to support local farmer’s markets and 34% said they wanted to avoid exposure to toxins in non-organic foods.
"This month’s poll gives us some insight into what is going through consumers’ minds when they’re making the choice of what they will feed themselves and their families," said Scott Hensley, NPR health correspondent and blogger. "We find it especially intriguing that a very small percentage of respondents are choosing organic foods based on taste. This makes organic vs. conventional a really unique case where food decisions are being made consciously by consumers."
Walmart, Walgreens, Supervalu join First Lady to combat food deserts
WASHINGTON — First Lady Michelle Obama on Wednesday afternoon will be joined by corporate chiefs from Walmart, Walgreens and Supervalu and smaller regional market chains as she announces a new initiative to support the Let’s Move! campaign, according to a Monday posting on the blog site Obama Foodorama.
The three retailers have agreed to establish more than 1,500 locations serving food desert communities to make affordable, healthier food options more accessible.
There is no federal financial commitment to the partner corporations, although in 2010, First Lady Obama established the Healthy Food Financing Initiative, a $400 million fund to combat food deserts, financed by the U.S. Department of the Treasury, U.S. Department of Agriculture and Department of Health and Human Services. It was not funded in the president’s 2011 budget.
According to the blog:
In January, Walmart made the commitment to open outlets in food deserts , when executives joined Obama to announce their Nutrition Charter. Walmart has set a target date of 2016 for establishing between 275 and 300 food desert locations;
Supervalu has pledged to build 250 Save-A-Lot stores in food deserts in the next five years; and
Walgreens has been adding fresh foods and produce to stores over the past two years, and has pledged to transform 1,000 stores into "food desert” stores.
To view the event live, at 2:15 p.m. EST, click here.