"This acquisition is consistent with our strategy of expandingour presence in growing markets in Florida with the dominantgrocery anchors," IRT chairman and CEO Thomas H. McAuley says in aprepared statement. "We continue to actively and selectively reviewnew acquisitions and will remain focused on those opportunitiesthat are consistent with our growth strategy."
The shopping center is 85% leased and also is home to EckerdDrugs, Schlotzky's Deli and State Farm Insurance. IRT expects tocomplete the new Publix by the beginning of October 2002.
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