WASHINGTON, DC-Inland Real Estate andMAB Retail Partners, an Australian-based company,are partnering in a venture in which they plan to develop as manyas 20 grocery-anchored retail centers throughout the southeasternUS and Mid-Atlantic states. The projects are expected to have avalue of as much as $325 million.

The deal will diversify Inland's geographic footprint andretailer base, says Mark Zalatoris, president andchief executive officer for Oak Brook, IL-based Inland Real Estate,in a prepared statement. "Our development joint venture with MABprovides us with the opportunity to develop and acquire brand new,high quality, grocery-anchored shopping centers after stabilizationand at a discount to market value, and allows us to efficientlyenter the vibrant southeastern region."

Indeed, a quick glance at a map of Inland's portfolio shows acompany devoted to its Mid-Western roots. It has assets throughMinnesota, Wisconsin, Illinois, Indiana, Ohio and one inNebraska.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.