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Inland Snaps Up Another Retail Property

JOLIET, IL-Inland Real Estate Corp., which has a significant appetite for retail properties, has bought a grocery-anchored center southwest of metro Chicago for $13.5 million.

By Dees Stribling | Updated on July 30, 2003

JOLIET, IL-Inland Real Estate Corp. has bought an 83,790-sf grocery-anchored shopping center in Joliet, IL, for $13.5 million. Caton Crossing, which is currently 100% occupied, is anchored by a 56,190-sf Cub Foods grocery store. Other tenants include Hallmark Cards and GNC.

William W. Anderson, VP of acquisitions for Inland, and Beth Sprecher Brooks, senior counsel of Inland, represented the REIT in the deal. The seller, John J. Greytak (on behalf of, and one of 12 individual owners who held the property as tenants-in-common) was represented by attorney Christina Brotto, of the Chicago firm Fagel and Haber.

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