Inland Real Estate Acquires Farnam Tech Center

Inland Real Estate Corporation (NYSE: IRC) today announced the acquisitions through its joint venture with Inland Real Estate Exchange Corporation (IREX) of the Farnam Tech Center in Omaha, Nebraska and a free-standing Copps Food Center store in Sun Prairie, Wisconsin.

The company purchased the 118,000-square-foot Farnam Tech Center, comprised of two, two-story office buildings leased to TD Ameritrade and Prime Therapeutics for approximately $18.0M.

IRC funded the acquisition with a first mortgage loan in the amount of $9.0 million, as well as a draw on its line of credit facility and cash on hand. The property was purchased on July 28, 2010.