Inland affiliate buys Houghton Mifflin facility

Educational textbook publisher Houghton Mifflin Co. recently sold and leased back a 513,512-square-foot distribution facility in Geneva, Ill., for $25.8 million.

Inland Real Estate Acquisitions purchased the 25-acre property, and Houghton Mifflin will lease the property through 2019.

The transaction is the second property Inland Real Estate Acquisitions has purchased in recent years in the educational industry -- a sector with special significance for the Inland group, as all four of its founders were teachers before they began their careers in real estate.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.