Inland Buys Two Publix-Anchored Centers

TAMPA, FL-Inland Retail Real Estate Trust Inc., Florida’s most aggressive shopping center buyer, has added two more assets to its total 44-property, 6.67 million-sf Southeast portfolio, bringing its Florida inventory to 4.21 million sf among 22 properties.

The Oakbrook, IL-based REIT paid U.S. Income Retail Fund LP of Atlanta, $5.96 million or $88.52 per sf for the 67,327-sf Shoppes citrus of Citrus Hill, FL and $8.59 million or $124.63 per sf for the 68,924-sf Steeplechase Plaza in suburban Ocala, FL, 80 miles northwest of Downtown Orlando.

Both acquisitions are anchored by Publix Supermarket stores. A 47,814-sf Publix anchors the 99%-leased Citrus Hill property. A 42,112-sf Publix is the dominant tenant at Steeplechase Plaza. The property is at the northeast corner of Novell Bryant Road (County Road 486) and North Forest Ridge Boulevard in Hernando County, 90 miles north of Tampa, FL.