InvenTrust Properties Corp. Acquires Two Shopping Centers
The company has purchased more than $280M in grocery-anchored shopping centers this year.
FAIRVIEW, TX / ROYAL PALM BEACH, FL – InvenTrust Properties Corp. has acquired two grocery-anchored shopping centers in Texas and Florida.
The first of the acquisitions, includes The Shoppes at Fairview, a 67,500-square-foot center in Fairview, Texas. The property, located in a suburb of Dallas, features a Whole Foods, Capital One, Jos. A. Bank and a forthcoming multi-tenant building, opening this summer. The second acquisition is Southern Palm Crossing, a 346,200-square-foot center in Royal Palm Beach, FL, offering a Costco, Marshalls, Homegoods and 24 Hour Fitness. The properties were purchased for $36 million and $97 million, respectively.
Following the recent transactions, InvenTrust has acquired a total of $280 million in grocery-anchored centers so far this year. The company claims it is currently on target to hit its 2019 acquisition goals.
InvenTrust Properties Corp. is a retail REIT, focused on acquiring grocery-anchored, open-air centers in key growth markets. The company owns and manages 73 retail properties across 12.3 million square feet, as of March 31, 2019.