Specifically, Inland retail acquired four Lowe's Home Improvement Stores, four Kroger grocery stores, three Super Wal-Mart stores, three Circuit City stores and one Sam's Club. Inland purchased the properties from CTL RE Assets, LLC.
Joe Cosenza, chairman of Inland Real Estate Acquisitions Inc. represented Inland Retail with attorney Gary Pechter. Attorney James Holcomb represented the seller. "These are some of the top names in retail, and these stores are all in great cities and locations," says Cosenza.
The purchases break down as follows:
--a 125,357-sf Lowe's in Baytown, TX for $11.84 million;--a 131,644-sf Lowe's in Katy, TX for $12.42 million;--a 130,497-sf Lowe's in Steubenville, OH for $11.97 million;--a 101,287-sf Lowe's in Cullman, AL for $9.24 million;--a 200,084-sf Wal-Mart in Alliance, OH for $16.37 million;--a 200,084-sf Wal-Mart in Greenville, SC for $17.5 million;--a 204,931-sf Wal-Mart in Winston-Salem, NC for $19.31 million;--a 64,522-sf Kroger in Grand Prairie, TX for $5.96 million;--a 66,637-sf Kroger in Cincinnati, OH for $7.65 million;--a 66,083-sf Kroger in Westchester, OH for $4.80 million;--a 43,480-sf Circuit City in Highlands Ranch, CO for $6.10 million;--a 35,776-sf Circuit City in Olympia, WA for $6.11 million;--a 32,873-sf Circuit City in Culver City, CA for $9.35 million; and--a 107,929-sf Sam's Club in Worcester, MA for $15.36 million.
Inland Retail says it owns more than 236 retail properties comprising nearly 30 million sf of retail space east of the Mississippi River. The company is sponsored by Inland Real Estate Investment Corp., which is part of The Inland Real Estate Group of Companies.
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