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.
La Mia Toscana to open at Cottonwood Plaza
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.
J.C. Penney adds Giggle to its lineup
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.