VIEWS: 30 PAGES: 2 CATEGORY: Press Releases POSTED ON: 3/10/2011
OAK BROOK, Ill.--(EON: Enhanced Online News)--Inland Real Estate Acquisitions, Inc. has announced the acquisition of the Waxahachie Crossing shopping center in Waxahachie, TX on behalf of Inland Diversified Real Estate Trust for $15.5 million. img border='0' title='Add to Google' alt='A
Inland Real Estate Acquisitions, Inc. Announces the Purchase of Waxahachie Crossing Shopping Center in Waxahachie, Texas for $15.5 Million Property acquired on behalf of Inland Diversified Real Estate Trust, Inc. March 10, 2011 01:34 PM Eastern Time OAK BROOK, Ill.--(EON: Enhanced Online News)--Inland Real Estate Acquisitions, Inc. announced today the acquisition of the 97,011-square-foot Waxahachie Crossing shopping center in Waxahachie, Texas for approximately $15.5 million. The property was acquired on behalf of Inland Diversified Real Estate Trust, Inc. and the purchase was facilitated by Mark Cosenza, vice president of Inland Real Estate Acquisitions. “Located 28 miles south of Dallas, Waxahachie Crossing benefits from the area’s excellent industrial and distribution job base, with a nearby Walgreen’s distribution center and major facilities for Owens Corning, Dart Transit, Baylor Medical and U.S. Aluminum,” Cosenza said. “The surrounding area’s strong demographics and healthy household incomes are reflected in the center’s high occupancy rate. In addition, the diverse tenant mix allows us to draw shoppers from 25 miles away or more.” The property was constructed in 2009 and tenants include Best Buy, Ross Dress for Less, PetSmart, Famous Footwear, Maurices and an AT&T cellular store. The shopping center was more than 96 percent occupied at closing and is shadow-anchored by a Home Depot and a JC Penney, which were not acquired by Inland Real Estate Acquisitions. “As our first retail acquisition in Texas, we believe Waxahachie Crossing is a strong addition to our growing portfolio,” said Barry Lazarus, president and chief operating officer of Inland Diversified. “We believe in the fundamentals of the Texas market due to a combination of relatively low unemployment, strong growth and a tax- friendly environment.” About Inland Real Estate Acquisitions, Inc. Inland Real Estate Acquisitions, Inc. is the purchasing arm for various entities that are a part of The Inland Real Estate Group of Companies, Inc. (“Inland”). Headquartered in Oak Brook, Ill., Inland has been ranked one of the largest shopping center owners in North America (Retail Traffic, March/April 2010) and one of the top managers of retail property in the United States (Retail Traffic, March/April 2010), and named the winner of the Torch Award for Marketplace Ethics by the Better Business Bureau of Chicago and Northern Illinois (December 2009). As of September 30, 2010, Inland-sponsored companies owned and managed in total over 123.4 million square feet of diversified commercial real estate in 47 states, as well as managed assets in excess of $25.8 billion. Inland is comprised of a group of independent legal entities some of which may be affiliates, share some common ownership or have been sponsored and managed by subsidiaries of Inland Real Estate Investment Corporation. For additional information, please refer to Inland’s website at www.inlandgroup.com. About Inland Diversified Real Estate Trust, Inc. Inland Diversified Real Estate Trust, Inc. (“Inland Diversified”) is a public, non-listed real estate investment trust (REIT) that focuses on acquiring and developing commercial real estate located in the United States and Canada, as well as the potential acquisition of other REITs or real estate operating companies. For additional information, please refer to Inland Diversified’s website at www.inlanddiversified.com. Contacts Inland Communications, Inc. Joel Cunningham, (630) 586-4897 firstname.lastname@example.org Permalink: http://eon.businesswire.com/news/eon/20110310006513/en/inland-diversified/acquisitions/reit
"Inland Real Estate Acquisitions, Inc. Announces the Purchase of Waxahachie Crossing Shopping Center in Waxahachie, Texas for $15.5 Million"