LAKE CITY, FL-An affiliate of Illinois-based Inland Group has acquired Lake City Commons, a 66,510-square foot shopping center in Lake City, for $10.5 million. Inland purchased the property from an affiliate of Atlanta-based South Harbor Development.

CB Richard Ellis’ National Retail Investment Group’s Florida team in Miami, working in collaboration with Cliff Taylor, first vice president of Investment Properties in the Private Client Group at CB Richard Ellis in Jacksonville, represented the seller in the transaction. The property has been on the market since it was developed in 2008.

“The property opened 100 percent leased in 2008 and it was 100 percent leased when we sold it,” Dennis Carson, a senior vice president with CB Richard Ellis’ Miami-Downtown Office, tells GlobeSt.com. “All of the original tenants are still leasing.”