HUNTINGTON, NY-Inland Private Capital Corp. has sold Huntington Square Shopping Center for $40.2 million. The fully-leased, 116,221-square-foot center was sold to a Toronto-based company, RioCan Holdings. The property was marketed by Jones Lang LaSalle’s Capital Markets group.

In a prepared statement, Rahul Sehgal, senior vice president of Inland Private Capital Corp., said that the property had “performed in line with projections from day one, producing steady returns for the tenant-in-common investors.”

Sehgal went on to say that Inland’s investors had decided to sell Huntington Square Shopping Center in lieu of pursuing refinancing options. “We’re pleased that we were able to arrange a profitable sale for these investors, adding another successfully completed program to our track reacord,” he said.

Current tenants at the shopping center include Best Buy and Stop & Shop. The JLL team involved were managing directors Kris Cooper, Margaret Caldwell and Dave Wojciechowski and associate Dan Zatloukal.

“Huntington Square Plaza received a great deal of interest from the institutional investment community as it offered a core asset in a prime location with limited supply and high barriers to entry,” Cooper said upon the sale. “In particular, we secured a significant amount of attention from Canadian investors. RioCan Holdings was attracted by the long-term security of two such high quality, investment-grade tenants.”