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Inland Retail Buys Dania Shopping Center

MIAMI-US Retail Income Fund III LP of Atlanta sold the 67,425-sf, 97% leased Sheridan Square neighborhood shopping center for $7.55 million. The center, built in 1991, is anchored by a 42,112-sf Publix.

By Melissa Bogdany | Updated on March 17, 2003

MIAMI-Inland Retail Real Estate Trust Inc. of Oak Brook, IL has acquired the Sheridan Square neighborhood shopping center in Dania, FL for $7.55 million.The 67,425-sf shopping center, near the Ft. Lauderdale metro area, was sold by US Retail Income Fund III LP of Atlanta.

Sheridan Square is anchored by a 42,112-sf Publix Supermarket, and other tenants include a 4,673-sf Dollar Tree. Built in 1991, the center is 97% leased with one vacancy, but Inland Retail is receiving rent as if it were 100% leased.

Steve Sanders, senior vice president of Inland Real Estate Acquisitions Inc., and attorney Charles Benvenuto represented Inland Retail in the transaction.

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