Inland Pays $128 per SF for Macon's New Eisenhower Crossing Addition

ATLANTA-Rolling right along on its scheduled monthly purchase program, Oak Brook, IL-based Inland Retail Real Estate Trust Inc. bought the second, newly constructed 103,007-sf phase of the 403,007-sf Eisenhower Crossing Shopping Center from Charlotte-based Faison-Sofran II Partnership No. 11 for $13.2 million or $128.15 per sf.

The transaction gives the Illinois developer/investor 17 Georgia properties totaling 3.6 million sf with an estimated acquisition cost of $321 million based on an average $90 per-sf purchase price, according to GlobeSt.com research.

Inland paid $30 million or $100 per sf for the first 300,000-sf phase in December 2001. A 55,696-sf Koger supermarket anchors the center. Macon is 60 miles south of Downtown Atlanta.