Joe Cosenza, chairman, Inland Real Estate Acquisitions Inc. and Gary Pechter represented Inland. North American, a 48-year-old real estate investment/development firm, represented itself.
In a second Florida acquisition, Inland paid the St. Joe Co. of Jacksonville, FL $800,000 or $72,727 per acre ($1.67 per sf) for an 11-acre parcel in Tallahassee, FL where a planned shopping center will be anchored by a Publix store. Inland has contracted to buy the center at a negotiated price when it is completed.
Steven Sanders, senior vice president, Inland Real Estate Acquisitions Inc. and outside counsel Charles Benvenutto negotiated for Inland. Joe Rossi represented St. Joe.
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