Inland Buys Tallahassee Ctr. for $10.85M

TALLAHASSEE, FL-Inland Real Estate Acquisitions Inc. of Oak Brook, IL continues its Southeastern acquisition sweep with the $10.85 million purchase of Killearn Shopping Center, a 100%-leased, 95,229-sf property at 9181 Capital Circle NE in Tallahassee, FL.

The Illinois REIT paid Tallahassee-based Branch Capital Partners $114 per sf for the 18-tenant center anchored by Publix, Eckerd Drugs and Bonefish Grill. Jim Michalak, senior director at Cushman & Wakefield of Florida Inc., negotiated for the seller.

“Retail financial investment remains extremely strong, with high demand and limited supply of desirable retail product,” Michalak tells GlobeSt.com. He expects the retail investment market to “remain strong through the end of the year.”