The acquistion from Creekwood Gateway LLC of Bradenton wasInland's 21st in Florida and 31st overall. The REIT has been payingan average $100 per sf for its acquisitions since June. Prior tothat period, Inland was paying an average $95 per sf, according toGlobeSt.com research.
Steve Sanders, senior vice president, Inland Real EstateAcquisitions Inc., calls the newest acquisition "another signatureproperty for Inland Retail." Paying top dollar for the property ispart of Inland's strategy.
"We look at the location, the tenants and the condition of theproperty, among other things, and this property stands out,"Sanders tells GlobeSt.com. He negotiated the purchase forInland.
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