Inland Picks Up Three Carolina Assets for $28M

ATLANTA-Inland Retail Real Estate Trust Inc.’s year-long Southeastern shopping center-buying spree entered the Carolinas this week where the Oak Brook, IL-based REIT acquired three properties totaling 337,337 sf for $28.3 million or an average $83.89 per sf.

In North Carolina, Inland bought the 125,000-sf, 98%-leased, one-year-old Gateway Plaza Shopping Center in Jacksonville, NC from a corporation called ZP#72 for $11.84 million or $94.72 per sf. Target is the anchor. Lou Quilici, senior vice president, Inland Real Estate Acquisitions Inc. and lawyer Andrew Viola represented Inland.

In Greensboro, NC, Inland paid Golden Gate Properties LLC-GVA Lat Purser & Associates of Charlotte $10.7 million or $69.87 per sf for the 153,133-sf Golden Gate Shopping Center anchored by Harris Teeter and Food Lion.