The first of the two properties is Riverdale Shops, a fully-leased 273,928-sf shopping center located in West Springfield. The complex is anchored by Kohl's and Stop & Shop. Inland also acquired the condominium interest in the recently completed Stop & Shop at Seekonk Town Center in Seekonk, MA. The center is also occupied by a new Home Depot.

Robert E. Griffin, Jr., president of the New England area for C&W, points out that grocery-anchored assets are currently the real estate market's "hottest" investment. "Inland was able to take this excellent opportunity as a means for substantially improving its existing holdings in one of the country's most desirable markets," he adds. "With this acquisition, Inland was able to guarantee strong, long-term returns based upon the credit of these nationally-renowned tenants and the extensive term remaining on the leases."

Supermarket-anchored centers have proven to be appealing to investors with a number of these centers changing hands as the office market continues to experience high vacancies and declining rents. The retail portions of these centers usually have long-term leases that will carry the investment through the recession and supermarkets tend to have a loyal base of customers that consistently patronize the store.