Inland Real Estate Corp. acquired Crystal Point Center, a 339,898-square-foot retail center in Crystal Lake, Ill.

The value of the transaction was approximately $37.3 million.

Crystal Point Center is anchored by Bed Beth & Beyond, Borders Books & Music, Sports Authority, Best Buy, Office Depot and K-Mart. Originally built in 1976 as an enclosed mini-mall, Crystal Point Center was redeveloped in 1998 to take advantage of the center’s prominent location in a retail trade area that includes such major retailers as Sam’s Club, Kohl’s, Target, Home Depot, Menards and Wal-Mart. 

The property was approximately 100 percent leased at the time of sale.

Inland Real Estate Corp. is a self-administered and self-managed publicly traded real estate investment trust.

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