Woolbright Development, based in Boca Raton, FL, recently bought the center from Cartagena Holding Co. NV Inc., a private investment company based here, for $13.25 million.

Now Inland Retail Real Estate Trust Inc. of Oak Brook, IL, has purchased the center from Woolbright Development for $18.51 million--$5.26 million more than Woolbright paid for it less than a month ago.

Woolbright Development, which had plans to redevelop the 19-year-old center, will still do that at an estimated cost of $1 million to $1.5 million, Soraya Tyriver, a director with Woolbright Development, tells GlobeSt.com. The plans include leasing the remaining space, undergoing a major landscaping upgrade, putting on a new roof, and reconfiguring space and attracting new tenants, she says.