SCHAUMBURG, IL—Inland Private Capital Corp., based in Oak Brook, Ill., has sold the Woodfield Shopping Center here at 905 East Golf Road for $12.4 million to an unnamed buyer.
The 100,773-sq.-ft. retail property is 100 percent occupied by Bed Bath & Beyond and Golfsmith. Affiliates of the Inland firm offered tenant-in-common interests in the property to a group of investors in a private offering in 2004, and continued managing the property on their behalf. Prior to completing the sale, an affiliate of Inland, with the unanimous consent of the tenant-in-common co-owners, renegotiated and extended both the Bed, Bath & Beyond and Golfsmith leases through Jan. 31, 2023 and Sept. 30, 2017, respectively.
“We’re pleased to complete another successful program on behalf of our investors,” says Rahul Sehgal, chief investment officer of the Inland firm, in a statement. “The investors chose to sell the property rather than refinance the original loan.”