Inland Buys $44M Power Center

SHREVEPORT, LA-Inland Diversified Real Estate Trust Inc. has acquired Regal Court Shopping Center for $43.5 million. The 363,167-square-foot power center is anchored by Kohl’s, J.C. Penney, and Dicks Sporting Goods.

The Oak Brook, IL-based REIT purchased Regal Court from its developer, SDI Shreveport Ltd. It expects to realize an 8.1% cap rate on the center, which is situated on nearly 39 acres within an area known as “retail row” because of the variety of retail tenants in that area.

Regal Court was on the market for about a year and generated significant interest, according to Christopher Winters with Colliers International’s Houston office. He represented the seller in the transaction, while Inland was represented internally.