OAK BROOK, IL-Inland Retail Real Estate Trust has bought three PetsMart stores in the southeastern United States for just under $10 million in sale-leaseback deals. The most recent additions to the 3.5-million-sf, $230-million portfolio are in Chattanooga, TN; Daytona Beach, FL and Fredericksburg, VA.

Inland Retail Real Estate paid $3.4 million for the 26,067-sf Fredericksburg property. The 26,194-sf Daytona Beach property was acquired for $3.23 million. The 26,040-sf Chattanooga property was bought for $3.1 million.

The Daytona Beach acquisition represents the REIT’s 12th property in Florida. Six of the remaining nine properties are in Georgia.

Inland Real Estate Acquisitions, Inc. Chairman Joseph Cosenza represented Inland Retail Real Estate Trust while PetsMart, Inc. vice president of real estate development Rick Franz represented his company, which will continue to occupy the stores under net leases.

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