At IRC Retail Centers we are focused on retail, centered on value.
We specialize in acquiring, owning and managing high quality, open-air shopping centers. As of September 30, 2016, we had $3.6 billion in total assets under management comprising 20.2 million square feet of leasable space, located primarily in the Central and Southeastern United States.
IRC Retail Centers’ total portfolio is primarily comprised of neighborhood, community and power shopping centers, and single-tenant retail assets. Our tenants are market-leading grocers and in-demand national, regional and local retailers providing everyday goods and services, as well as value-oriented retail.
Our team of experienced, dedicated professionals is guided by our “C.O.R.E.” mission – that is to “Create Outstanding Relationships and Experiences” with our tenants, shoppers, investors, joint venture partners, co-workers, and the communities in which we operate.
IRC Retail Centers, previously known as Inland Real Estate Corporation, is a retail real estate company that is owned by funds managed by DRA Advisors, LLC.
The acquisition of Inland Real Estate Corporation (IRC) by funds managed by DRA Advisors LLC is completed in March of 2016. Upon closing of the transaction, Inland Real Estate Corporation changes its name to “IRC Retail Centers” and becomes a privately-held company.
On December 15, 2015. IRC announces it has entered into a definitive agreement (the “Merger Agreement”) to be acquired by real estate funds managed by DRA Advisors LLC. Under the terms of the Merger Agreement, funds managed by DRA will acquire all issued and outstanding common stock of IRC for $10.60 per share in cash.
Investments for IRC’s joint venture with PGGM are completed in May, 2015 – In total, venture added $613 million new acquisition gross value to company’s total portfolio. Total joint venture asset value at full investment is approximately $900 million.
In June, IRC marks 20 years of operations, 10 years of trading on the New York Stock Exchange (NYSE).
IRC forms joint venture with MAB American Retail Partners to develop grocery-anchored centers in the Southeastern United States, in conjunction with its objective to diversify the portfolio through the development of new centers and acquisition of stabilized assets in select markets in the Southeast.
IRC acquires partner’s interest in the IRC-New York State Teachers Retirement System (NYSTRS) joint venture, expanding consolidated portfolio by 2.3 million square feet.
IRC launches joint venture with Dutch pension fund administrator PGGM to acquire core retail assets in both current and new markets within the Central United States.
Investments for IRC’s joint venture with NYSTRS are completed – $312 million gross value added to portfolio.
IRC is added to S&P REIT Composite Index.
IRC forms joint venture with NYSTRS to acquire retail assets in the Central United States.
IRC is listed and begins trading on the NYSE on June 9, 2004.
Company internalizes management and becomes self-advised, self-managed.
Fund is closed to new investors.
Company qualifies as a real estate investment trust (REIT). As public, non-traded REIT, company invests proceeds from sale of shares to retail investors into the acquisition of high-quality retail assets.
Company is formed as a Maryland corporation.