Inland Real Estate Corporation Announces New Retail Leases Totaling More Than 98,000 Square Feet In Illinois And Minnesota

Inland Real Estate Corporation (NYSE: IRC) today announced the signing of six new leases in Illinois and Minnesota. The leases total 98,735 square feet, and retailers are scheduled to begin opening in late 2012.

The largest of the new leases was signed with Hobby Lobby for 46,984 square feet at the Hawthorn Village Commons shopping center in Vernon Hills, Ill. Other tenants at Hawthorn Village Commons, located at 220 Townline Road, include Dollar Tree, Pearle Vision and El Famous Burrito.

“The addition of Hobby Lobby brings a national tenant to the local community and helps create a well-balanced mix of specialty, local and national retailers at the Hawthorn Village Commons shopping center,” said Mike Fitzgerald, director of leasing. “We continually evaluate all of our shopping centers to ensure they have the right tenant mix to fit the needs of the local consumers.”

In addition to Hobby Lobby, Inland Real Estate Corporation recently signed leases with:
  • Michaels for a 16,480-square-foot space at Quarry Retail, positioned at the intersection of Stinson and I-35W in Minneapolis.
  • Party City for 12,039 square feet at Schaumburg Plaza, situated at the intersection of Barrington and Weathersfield Road in Schaumburg, Ill.
  • Pier 1 Imports for 11,400 square feet at Two Rivers Plaza, located at the high-traffic corner of Weber and Boughton Road in Bolingbrook, Ill.
  • Dollar Tree for 8,916 square feet at Edinburgh Festival Center in Brooklyn Park, Minn.
  • Noodles & Company for a 2,916-square-foot restaurant space at Bradley Commons, located on North State Route 50 in Bourbonnais, Ill.

“All of these shopping centers are located in high traffic areas and the addition of these well-known, national retailers will attract new customers to the centers,” Fitzgerald said. “We continue to see an increase in leasing activity across our entire Midwest portfolio from local and national retailers who are seeking out excellent retail locations with high visibility.”

About Inland Real Estate Corporation

Inland Real Estate Corporation is a self-administered and self-managed publicly traded real estate investment trust (REIT) that owns and operates open-air neighborhood, community, power and lifestyle retail centers and single-tenant properties located primarily in the Midwestern United States. As of June 30, 2012, the Company owned interests in 149 investment properties, including 38 owned through its unconsolidated joint ventures, with aggregate leasable space of approximately 15 million square feet. Additional information on Inland Real Estate Corporation is available at www.inlandrealestate.com.

Copyright Business Wire 2010

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