Inland Real Estate Acquisitions Acquires Waxahachie Crossing Shopping Center

Strategic Insights -

Inland Real Estate Acquisitions, Inc. has announced the acquisition of the 97,011-square-foot Waxahachie Crossing shopping center in Waxahachie, Texas, for approximately $15.5 million. This property was acquired on behalf of Inland Diversified Real Estate Trust, Inc. and marks the company's first retail acquisition in Texas. The shopping center benefits from its proximity to the area's excellent industrial and distribution job base, with major facilities nearby, and boasts a diverse tenant mix that attracts shoppers from a wide radius.

Key Takeaways:

  • The Waxahachie Crossing shopping center spans 97,011 square feet and was acquired for approximately $15.5 million.
  • The property was purchased by Inland Real Estate Acquisitions, Inc. on behalf of Inland Diversified Real Estate Trust, Inc.
  • The shopping center benefits from its location near major facilities, including a Walgreen's distribution center, Owens Corning, Dart Transit, Baylor Medical, and U.S. Aluminum.
  • At the time of acquisition, the shopping center was more than 96 percent occupied and features tenants such as Best Buy, Ross Dress for Less, PetSmart, Famous Footwear, and Maurices.
  • Inland Real Estate Acquisitions believes that the Texas market is strong due to factors such as low unemployment, growth, and a tax-friendly environment.
  • Inland Real Estate Group of Companies has been ranked among the largest shopping center owners in North America and top managers of retail property in the United States.
  • As of September 30, 2010, Inland-sponsored companies owned and managed over 123.4 million square feet of commercial real estate in 47 states.

Statistics:

  • The Waxahachie Crossing shopping center spans 97,011 square feet.
  • The property was acquired for approximately $15.5 million in 2010.
  • At the time of acquisition, the shopping center was more than 96 percent occupied.
  • Inland-sponsored companies owned and managed over 123.4 million square feet of commercial real estate in 47 states as of September 30, 2010.
  • Inland Real Estate Group of Companies has managed assets in excess of $25.8 billion.

Sources:

  • [Source 1] Inland Real Estate Acquisitions, Inc. press release (no date)
  • Inland Diversified Real Estate Trust, Inc. website (www.inlanddiversified.com)
  • Inland Real Estate Group of Companies website (www.inlandgroup.com)
  • Retail Traffic (March/April 2010)
  • Retail Traffic (March/April 2010)
  • Better Business Bureau of Chicago and Northern Illinois (December 2009)