Inland Purchases Valparaiso Walk for $22M

VALPARAISO, IN—Inland Real Estate Corp. has purchased Valparaiso Walk, a retail center here, for $21.9 million.

The 137,509-sq.-ft. center is at the intersection of Silhavy Road and LaPorte Avenue. The center is 100 percent leased, and anchored by Bed Bath & Beyond, Marshalls, Best Buy, and Michaels, and shadow-anchored by Aldi and Menards. Additional tenants include Dress Barn, Famous Footwear, Lane Bryant, Noodles & Co. and T.G.I. Friday’s.

Scott Carr, executive vice president and chief investment officer, said the center is in the robust area of northern Indiana. “We reinvested proceeds from recent dispositions to acquire this Class A property located in the greater Chicago metro area in a lender-driven sale,” he said in a statement. The company owns interests in 150 investment properties, including 42 owned through its unconsolidated joint ventures, with aggregate leasable space of approximately 15 million sq. ft.

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