Inland Real Estate Corporation (NYSE:IRC) owns and manages a portfolio of high quality retail real estate assets throughout the Midwest and in other target markets. Inland Real Estate Corporation currently has interests in approximately 150 properties covering more than 14 million square feet in 13 states*. The company's portfolio is comprised of neighborhood and community assets as well as lifestyle, power and single-tenant centers. A self-administered and self-managed real estate investment trust (REIT), Inland Real Estate Corporation is one of the largest shopping center REIT operating in the Midwest.
Portfolio
Inland's neighborhood and community shopping centers provide everyday convenience shopping for consumers. The company's critical mass of retail assets, located in high traffic regions with strong demographics, affords deep market knowledge, operational efficiencies and additional buying power. Power and lifestyle centers reflect the evolving needs of 21st century America. Inland's regional power centers dominate their respective trade areas, attracting shoppers from wide destinations. With their appealing Main Street ambience, lifestyle centers offer shoppers a variety of retail and leisure activities in accessible open air settings.
Tenants
Inland's retail centers showcase a diverse, in-demand mix of national and regional tenants, such as SuperValu grocery stores (Jewel/Cub), PetSmart, T.J. Maxx and Best Buy. Portfolio space is leased 70 percent to national retailers and 30 percent to local retailers well known within their communities. Since 2003 the company has maintained a 95% or higher portfolio occupancy.
Inland Real Estate Corporation's tenured senior management team, with long-term dedicated real estate experience, has guided the company to produce a stable and growing performance record for investors. The compound annual growth rate in funds from operations (FFO) per share for the past 10 years has averaged approximately 6.0%. In order to enhance value and grow the real estate platform, Inland is engaging in strategic initiatives including joint ventures with high quality partners, select asset dispositions, and portfolio development and redevelopment activities.
Inland Real Estate Corporation has been in the business of retail real estate for more than 12 years. With more than $1.7 billion in asset acquisition value, both owned and managed, the company has established retail market leadership and Midwest market strength.
*At December 31, 2007
