Inland Diversified Real Estate Trust acquires $71.4 million in grocery properties
Oak Brook, Ill. -- Inland Diversified Real Estate Trust announced the acquisition of six triple-net leased grocery properties in two separate portfolio acquisitions, with a total combined purchase price of approximately $71.4 million.
The acquisitions include three grocery stores in Missouri that are fully leased to Schnuck Markets, purchased for approximately $22.6 million in a sale-leaseback transaction. Additionally, three Pathmark grocery stores located in Delaware, Pennsylvania and New York were acquired for approximately $48.8 million.
“These acquisitions further strengthen our portfolio of necessity-based grocery properties, which as an asset class have traditionally performed very well across all economic cycles,” said Barry Lazarus, president and COO of Inland Diversified.