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Inland Real Estate Acquisitions, Inc. Announces the Purchase of Shopping Centers in Arkansas and Wisconsin for $48.3 Million

Fairgrounds Crossing, Hot Springs, Arkansas (Photo: Business Wire)

Lou Quilici, senior vice president of Inland Real Estate Acquisitions, facilitated the purchase of the 155,206-square-foot Fairgrounds Crossing, which is anchored by Best Buy, Dick's Sporting Goods and Bed Bath & Beyond.

"Fairgrounds Crossing benefits from a large surrounding population of nearly 59,000 people and is located in a community that sees a lot of tourist traffic thanks to the nearby Hot Springs National Park," Quilici said. "I'm pleased we were able to extend our relationship with the seller, from whom we previously acquired the Regal Court shopping center in Shreveport, Louisiana, also on behalf of Inland Diversified."

Additional tenants at Fairgrounds Crossing include Michaels, PetSmart, Subway and SportClips. The property is shadow-anchored by a Sam's Club, which was not purchased as part of this transaction.

Mark Cosenza, vice president of Inland Real Estate Acquisitions, facilitated the purchase of Shoppes at Prairie Ridge. The tenant line-up also includes Dick's Sporting Goods and PetSmart, as well as JC Penney and Ulta. It is shadow-anchored by a Target, which was not purchased as part of this transaction.

"Illustrating Shoppes at Prairie Ridge's excellent location, the Target store here is brand new, having relocated from a center down the road to take advantage of a superior location within a regional commercial hub," Cosenza said. "The center sits next to St. Catherine's Hospital, which employs around 2,100 people and generates a lot of traffic for the shopping center."

About Inland Real Estate Acquisitions, Inc.

Inland Real Estate Acquisitions, Inc. is the purchasing arm for various entities that are a part of The Inland Real Estate Group of Companies, Inc. ("Inland" ), which is comprised of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored and managed by subsidiaries of Inland Real Estate Investment Corporation. Headquartered in Oak Brook, Ill., Inland has been ranked one of the largest shopping center owners in North America (Retail Traffic, March/April 2011). As of March 31, 2011, Inland-sponsored companies owned and managed in total over 127.4 million square feet of diversified commercial real estate in 47 states, as well as managed assets in excess of $25.1 billion.

About Inland Diversified Real Estate Trust, Inc.

Inland Diversified Real Estate Trust, Inc. is a public, non-listed real estate investment trust (REIT) that focuses on acquiring and developing commercial real estate located in the United States and Canada, as well as the potential acquisition of other REITs or real estate operating companies. For additional information, please refer to www.inlanddiversified.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6782933&lang=en

Inland Communications, Inc.
Joel Cunningham, (630) 586-4897
cunninghamj@inlandgroup.com