Inland Retail Shells out Nearly $15.7 Mil for Plaza

ANDERSON, SC-Inland Retail Real Estate Trust Inc. made its first investment in the Carolinas, buying the 223,211-sf Anderson Central Shopping Center. Inland Retail paid $15.69 million for the two-year-old shopping center.

Fletcher Bright Co., of Chattanooga, TN is the seller and developer of the retail site.Barry Lazarus, Inland Retail’s president, Lou Quilici, vice president of acquisitions and outside counsel Charles Benvenuto negotiated the transaction. Fletcher Bright represented his company in the talks.

The 27.9-acre Anderson Central center is fully leased. It is anchored by a 183,211-sf Super Wal-Mart. Other tenants include RadioShack, Dollar Tree, H&R Block, Sally Beauty Supply and a Blockbuster video store.

“We were attracted to the area because of its diverse background which includes business, industry and more than 200 manufacturing firms and seven colleges,” Lazarus said in a written statement.

Inland Retail has bought more than 2.3 million sf of prime retail space this year and has more than two million sf of retail space in the Southeast under contract.