Inland completes disposition of Mariano’s Fresh Markets
With the sale of a Mariano’s Fresh Market in Arlington Heights, Illinois, for $25.5 million, Inland Private Capital Corporation marked the final disposition of four such Chicagoland locations.
Located at 802 East Northwest Highway in Arlington Heights, approximately 25 miles northwest of Chicago, the 66,393-sq.-ft. building was the first Mariano’s Fresh Market store to open in Illinois in July 2010.
“We began purchasing Mariano’s locations on behalf of investors beginning in 2011, shortly after the Arlington Heights store was built because we recognized the growth potential and brand strength of Mariano’s,” said Keith Lampi, president and chief operating officer of IPC. “As Mariano’s achieved explosive growth and expansion in the years following the opening of its flagship location, we strategically acquired additional properties with strong location fundamentals.”
The Arlington Heights location is leased to Roundy’s Supermarkets, a wholly owned subsidiary of Kroger.
Lampi said Inland was proud to have been a part of the establishment of the Mariano’s brand in the region. The three other divested supermarkets were located in Palatine, Vernon Hills and Elmhurst.
“IPC was an early adopter of what has been the fastest-growing grocery brand in the Chicagoland area, and now our investors are able to harvest the benefits through monetization,” Lampi said.
The Arlington Heights sale resulted in a total return to the investors of 169%, calculated based on the aggregate amount of original capital invested in this property, Inland reported. The sale resulted in a 9.48% average annualized return to investors.
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Located at 802 East Northwest Highway in Arlington Heights, approximately 25 miles northwest of Chicago, the 66,393-sq.-ft. building was the first Mariano’s Fresh Market store to open in Illinois in July 2010.
“We began purchasing Mariano’s locations on behalf of investors beginning in 2011, shortly after the Arlington Heights store was built because we recognized the growth potential and brand strength of Mariano’s,” said Keith Lampi, president and chief operating officer of IPC. “As Mariano’s achieved explosive growth and expansion in the years following the opening of its flagship location, we strategically acquired additional properties with strong location fundamentals.”
The Arlington Heights location is leased to Roundy’s Supermarkets, a wholly owned subsidiary of Kroger.
Lampi said Inland was proud to have been a part of the establishment of the Mariano’s brand in the region. The three other divested supermarkets were located in Palatine, Vernon Hills and Elmhurst.
“IPC was an early adopter of what has been the fastest-growing grocery brand in the Chicagoland area, and now our investors are able to harvest the benefits through monetization,” Lampi said.
The Arlington Heights sale resulted in a total return to the investors of 169%, calculated based on the aggregate amount of original capital invested in this property, Inland reported. The sale resulted in a 9.48% average annualized return to investors.
Connect with me on LinkedIn | Follow me on Twitter