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CARROLLWOOD, FL-Atlanta’s IRT Property Co. has purchased suburban Tampa’s Carrollwood Center in a $6.7-million transaction. IRT plans to spend an additional $2.4 million to update the 96,242-sf retail property. A big portion of the redevelopment will be the addition of a new 27,887-sf Publix supermarktet to replace one that currently sits on the property.

“This acquisition is consistent with our strategy of expanding our presence in growing markets in Florida with the dominant grocery anchors,” IRT chairman and CEO Thomas H. McAuley says in a prepared statement. “We continue to actively and selectively review new acquisitions and will remain focused on those opportunities that are consistent with our growth strategy.”

The shopping center is 85% leased and also is home to Eckerd Drugs, Schlotzky’s Deli and State Farm Insurance. IRT expects to complete the new Publix by the beginning of October 2002.

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