Lower Makefield Shopping Center in Yardley, Pennsylvania has been acquired by an affiliate of Inland Institutional Capital, LLC

Lower Makefield Shopping Center

Yardley, Pennsylvania

Executive Summary

Lower Makefield Shopping Center (the “Property”) is a grocery anchored shopping center built in 1986 and renovated in 2000. The Property was acquired by an affiliate of Inland Institutional Capital, LLC (“ICAP”). The Property comprises over 11.2 acres and includes 74,953 square feet of retail space. Lower Makefield was 95% leased at acquistion with major tenants including Giant Grocery (an Ahold brand), Rite Aid and First Choice Bank. An additional 1,642 square feet (2% of the center) has been leased to a bagel shop that will open in September, 2017.

Management Profile

ICAP, an SEC registered investment adviser, is part of The Inland Real Estate Group of Companies, Inc. (“Inland”)1, a real estate investment management firm incorporated in 1968. Over the past forty-seven years, Inland has invested $20.5 billion of capital across all major property types. The Company focuses on high quality shopping centers in strong economic markets. Inland is a fully integrated owner, operator and manager of U.S. retail properties, including 274 shopping centers, with over 39 million square feet of retail space.

Lower Makefield Shopping Center's Attractive Characteristics Include:

  • Strong grocery anchor - Giant is an Ahold brand. Giant is the dominant full service grocer in this region. This location produced sales of $597 per square foot or approximately $26 Million in 2016.2
  • The Property is situated in Bucks County, one of the highest income regions of the Philadelphia MSA. Bucks County recently began promoting new housing and the region is growing.
  • Lower Makefield has excellent access to Pennsylvania's and New Jersey's extensive freeway system and is located in close proximity to outstanding residential neighborhoods.
  • While the Property is in excellent condition, there are opportunities for improvements to enhance tenant relations.
  • In addition to the anchors, there is a strong mix of local tenants.

Inland Institutional Capital, LLC

1“Inland” refers to some or all of the entities that are a part of The Inland Real Estate Group of Companies, Inc., which is comprised of independent legal entities some of which may be affiliates, share some common ownership or have been sponsored and managed by Inland Real Estate Investment Corporation or its subsidiaries.
2 Statistics as of January 1, 2017.

Disclaimer

This Investment Summary does not constitute an offer to sell or a solicitation of an offer to purchase any security. Any such offer or solicitation shall be made only pursuant to a confidential private placement memorandum. Additonal information regarding investment opportunities will be made available to qualified accredited investors upon request.

ICAP is an SEC registered investment adviser. This registration does not imply a specific level of expertise, skill or training. This registration does not imply a recommendation by the United States Securities and Exchange Commission or by any state securities authority.

Past or projected performance is not necessarily indicative of future results. There can be no assurance that any direct or indirect investment in retail real estate will achieve comparable results, that targeted returns, diversification or asset allocations will be met. Actual returns on unrealized investments will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, legal and contractual restrictions on transfer that may limit liquidity, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions and circumstances on which the valuations used in the prior performance data contained herein are based. Accordingly, actual returns may differ materially from the returns indicated herein.

Statements contained in this Investment Summary that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of ICAP. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this Investment Summary contains “forward-looking statements.” Actual events or results or the actual performance of direct or indirect investments in retail real estate may differ materially from those reflected or contemplated in such forward-looking statements.

Certain economic and market information contained herein has been obtained from published sources prepared by third parties and in certain cases has not been updated through the date hereof. Neither ICAP nor any other entity that is part of Inland nor any of their respective employees or agents assume any responsibility for the accuracy or completeness of such information.

Inland has not made any representation or warranty, express or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of any of the information contained herein (including but not limited to information obtained from third parties), and Inland expressly disclaim any responsibility or liability therefor. Inland does not have any responsibility to update or correct any of the information provided in this Investment Summary.

The companies depicted herein may have proprietary interests in their respective trademarks and trade names. Nothing herein shall be considered an endorsement, authorization or approval of ICAP by the aforementioned companies. Further, the aforementioned companies are not affiliated with ICAP in any manner.