Inland Real Estate Acquisitions, one of the most active acquirers of retail real estate in the U.S. has closed on the purchase of four Chicagoland Jewel-Osco stores.
All of the supermarkets have been signed to new 20-year leases. The locations:
• 1869 South Arlington Heights Road, 61,475 sq. ft., Arlington Heights, Ill. • 1340 Patriot Boulevard, 63,523 sq. ft., Glenview, Ill. • 1759 West Odgen Avenue, 64,977 sq. ft., Naperville, Ill. • 7122 West 40th Street, 58,647 sq. ft., Stickney, Ill.
“These Jewel-Oscos are staples in their community, with sales ranging from $27 million to $33 million per year for each store,” said Inland Real Estate Acquisitions president Joe 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 has acquired more than more than $45 billion worth of real estate, $27 billion of which are retail properties.