TIC investors buy Midwest shopping center

Upland Real Estate Group Inc. sold a retail center in Randall Road, Ill., to nine Tenant-In-Common (TIC) investors.

These investors, some of whom were involved in 1031 tax-deferred exchanges, purchased roughly 95 percent of the Randall Road Retail Center.

The value of the transactions was approximately $13.5 million.

The center's tenant mix includes TJ Maxx, Pier 1 Imports, Famous Footwear, PetCo Animal Supplies, Dress Barn, Fruitful Yield and Partyland.

At the time of sale, the property was 100 percent leased.

Minneapolis-based Upland Real Estate Group is a fully integrated commercial real estate company.

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