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ATLANTA-Inland Retail Real Estate Trust Inc., a 35-year-old Oak Brook, IL-based REIT with a national portfolio of 30 million sf, is increasing its metro-area holdings with the $13.3 million acquisition of the five-month-old, 90,566-sf Clearwater Crossing shopping center in suburban Flowery Branch, GA.

Inland paid Clearwater Crossing LLC $146.85 per sf for the property at 7380 Spout Springs Rd. A 54,166-sf Koger grocery store with a drive-in pharmacy and a five-pump gasoline station on the center’s parking lot anchors the property.

“Inland Retail has added another grocery-anchored center to what has quickly become the largest portfolio of open-air centers in the Atlanta market,” says Joe Cosenza, chairman of Inland Real Estate Acquisitions Inc. which purchased Clearwater Crossing for Inland Retail. Inland Retail owns 247 retail properties east of the Mississippi River.

Cosenza, Sharon Anderson-Cox, vice president of Inland Real Estate Acquisitions Inc. and Inland lawyer Charles Benvenuto represented Inland in the transaction. Margaret Staats of Redd Realty Services and attorney Kathi Tomcho of Arter & Tomcho LLC represented the seller.

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