Inland Real Estate Group of Oak Brook, Ill. has acquired the White City Shopping Center in Shrewsbury for $97 million.

The seller was a joint venture of Lexington-based Charter Realty & Development and Acadia Realty Trust, which acquired the property in 2010 for $56 million and redeveloped it into an institutional-quality 260,000-square-foot shopping center. Anchored by Shaw’s Supermarket, the center is 100 percent leased, with more than half of the 44 tenants renewed or released under the previous ownership. Major tenants include Petco, Dress Barn, The Paper Store, Planet Fitness and Austin Liquors.

The CBRE/NE Capital Markets team led by Chris Angelone, Bill Moylan and Nat Heald represented the joint venture in the transaction and procured the buyer.

“New ownership will benefit from the new dynamic tenant mix, vast capital improvements and the irreplaceable location of the property,” Angelone said in a statement.

The buyers obtained a $49.4 million mortgage from Santander Bank, according to Middlesex County Registry of Deeds records.