Ottumwa, IA – The Net Lease Group (NLG) has brokered the sale of 2453 North Court, a 47,800 square-foot grocery supermarket in Ottumwa, IA.
Esmael Hill, Managing Principal of NLG, arranged the transaction on behalf of Inland Real Estate Investment Corporation, an investment arm of The Inland Real Estate Group of Companies. The property was acquired by Agree Realty Corporation for $7 million.
The 3.87 acre property is located 3 miles north of the downtown Ottumwa on the corner of Interstate 63 and North Court Street. The facility is net-leased to Hy-Vee, a large employee-owned chain of grocery stores and drugstores operating throughout the Midwest in eight states.