REAL ESTATE

Inland Diversified Real Estate Trust acquires $71.4 million in grocery properties

BY Staff Writer

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.

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REAL ESTATE

La Mia Toscana to open at Cottonwood Plaza

BY Staff Writer

Tucson, Ariz. — Commercial Retail Advisors said that La Mia Toscana Italian Restaurant has signed a lease for a 3,210-sq.-ft. restaurant in the Cottonwood Plaza Shopping Center in, Tucson, Ariz.

La Mia Toscana is expected to open in first quarter 2013.

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OPERATIONS

J.C. Penney adds Giggle to its lineup

BY Marianne Wilson

New York — J.C. Penney Co. has partnered with Giggle, a New York-based upscale baby specialty store chain, to debut an exclusive collection of Giggle-branded merchandise next fall, Crain’s New York reported.

The new line is one of the many branded in-store shops that are now in the works at J.C. Penney.

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