The acquisition is the REIT's 20th in Florida. Inland has bought 16 properties this year alone for a total 30 shopping centers with an overall square footage of 3.72 million. In Florida, Inland has 2.27 million sf.
"We plan to add up to a dozen more by the end of the year," Steve Sanders, senior vice president, Inland Real Estate Acquisitions Inc., tells GlobeSt.com.
The REIT is by far the largest and most aggressive retail developer/investor in Florida and one of the leaders in the entire Southeast, according to GlobeSt.com research based on acquisitions in the first 10 months of this year.
"Tampa Bay continues to exhibit strength in the job and housing markets and Brandon Boulevard Shoppes is strategically located near several new neighborhood developments," Sanders says.
Brandon Shoppes is 12 miles east of Downtown Tampa at the northwest corner of Brandon Boulevard (State Route 60) and Valrico Road in Valrico, FL. The property has 14 tenants and only one 6,000-sf vacancy.
Sanders and outside counsel Charles Benvenuto represented Inland in the transaction. RIG Brandon Boulevard is a Delaware-registered limited liability company.
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