The Oakbrook, IL-based REIT paid U.S. Income Retail Fund LP of Atlanta, $5.96 million or $88.52 per sf for the 67,327-sf Shoppes citrus of Citrus Hill, FL and $8.59 million or $124.63 per sf for the 68,924-sf Steeplechase Plaza in suburban Ocala, FL, 80 miles northwest of Downtown Orlando.
Both acquisitions are anchored by Publix Supermarket stores. A 47,814-sf Publix anchors the 99%-leased Citrus Hill property. A 42,112-sf Publix is the dominant tenant at Steeplechase Plaza. The property is at the northeast corner of Novell Bryant Road (County Road 486) and North Forest Ridge Boulevard in Hernando County, 90 miles north of Tampa, FL.
At the 100%-leased Steeplechase Plaza, a 14,080-sf Walgreen's and a 12,000-sf Beall's Outlet store are the largest retailers after Publix.
Steve Sanders, senior vice president, Inland Real Estate Acquistions Inc. and outside counsel Charles Benvenuto represented Inland in both deals.
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