CHICAGO—Retail investors continue to regard properties used by Mariano's Fresh Markets as some of the best opportunities in the Chicago area. Inland Private Capital Corp., through a subsidiary which serves as asset manager, recently facilitated the sale, on behalf of one of its 1031 investment programs, of the Mariano's in Palatine, IL, to a private investor for a gross sale price of $29.025 million.

Located at 545 N. Hicks Rd., the 71,324-square-foot building, which was constructed in 2011, sits on 6.5 acres of land approximately 30 miles northwest of Chicago. Roundy's Supermarkets, Inc., which includes such brands as Copp's, Pick 'n Save and Mariano's, occupies 100% of the property.

“The sale of the Palatine location completed our Chicagoland Fresh Market Venture DST investment program, which also included a Mariano's Fresh Market in Vernon Hills, IL, that previously sold for $36.4 million,” says Keith Lampi, president and chief operating officer of IPC. “We began purchasing Mariano's locations on behalf of investors beginning in 2011, and as early adopters of what has been the fastest-growing grocery brand in the Chicagoland area, our investors reaped the benefits through substantial returns with the sale of both properties.”