Elmhurst Mariano's Sold to New Landlord for $25M

Elmhurst, IL - Mariano's Fresh Market in Elmhurst has been sold for $25 million.

The single-story, 75,922-square-foot building on 5.7 acres at 678 North York Road was built in 2013, and it's leased to Roundy's Supermarkets, Inc., the parent company of Mariano's.

Inland Private Capital Corporation facilitated the property sale on behalf of one of its 1031 investment programs, according to a news release.

A Roundy's spokesperson told the Daily Herald nothing will change with the Mariano's lease agreement or with the business.

“This was a very successful investment for IPCC that resulted in a substantial return for our investors,” said Keith Lampi, president and chief operating officer of IPCC, in a statement. “Investors purchased this asset in 2013, and it performed positively due to its strong location fundamentals and the credit enhancement resulting from the Roundy’s/Kroger transaction that occurred late last year.”

The property was sold to Mark Beccaria, of the hotel investment firm Beccaria Partners, and his relatives, Crain's Chicago Business reports, citing county records.

Kroger Co. bought Roundy's in December 2015.

Photo via Yelp.