HUNTINGTON, NY-Inland Private Capital Corp. has sold Huntington Square Shopping Center for $40.2 million. The fully-leased, 116,221-square-foot center was sold to a Toronto-based company, RioCan Holdings. The property was marketed by Jones Lang LaSalle’s Capital Markets group.
In a prepared statement, Rahul Sehgal, senior vice president of Inland Private Capital Corp., said that the property had “performed in line with projections from day one, producing steady returns for the tenant-in-common investors.”
Sehgal went on to say that Inland’s investors had decided to sell Huntington Square Shopping Center in lieu of pursuing refinancing options. “We’re pleased that we were able to arrange a profitable sale for these investors, adding another successfully completed program to our track reacord,” he said.
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