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TERRE HAUTE, IN-Inland Real Estate Corp. has acquired Honey Creek Commons, a new 179,100-sf power retail center here, for $23.8 million. The publicly held REIT from Oak Brook, IL, says it may make additional payments totaling $2.9 million as vacant space is leased.
Honey Creek is anchored by a Kohl's store. Other tenants include Linens 'N Things, TJ Maxx, Dressbarn, David's Bridal and Panera Bread.
Terre Haute is considered the retail hub of a 70-mile circle in southwestern Indiana. The retail center is located along the west side of US Route 41/150, about three miles south of Interstate 70.
Also this week, Inland Real Estate Corp. acquired Big Lake Town Square, a 67,835-sf grocery-anchored retail center in Big Lake, MN, 40 miles northwest of Minneapolis. The purchase price was $10 million, not including future contingent payments of up to $700,000 as vacant space is leased.
The center is located at 711 Rose Dr. Major tenants at the center include Coburn's Grocery, Great Clips, Figaro Pizza and Caribou Coffee.
Inland Real Estate Corp. owns and manages 143 neighborhood, community and single-tenant retail centers located in the Midwestern United States.
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