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.
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