OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Diversified Real Estate Trust, Inc. (“Inland Diversified”) announced today the acquisition of The Landings at Ocean Isle Beach, a 53,200-square-foot grocery-anchored shopping center in Ocean Isle Beach, N.C., for approximately $10.2 million. The property is anchored by Lowes Foods. Lou Quilici, senior vice president of Inland Real Estate Acquisitions, Inc., facilitated the transaction on behalf of Inland Diversified.
“This results in a substantial increase in foot traffic during the high tourist season, when approximately 25,000 people visit the area every week.”
“The Landings at Ocean Isle Beach is uniquely located equidistant from Wilmington and Myrtle Beach,” Quilici said. “This results in a substantial increase in foot traffic during the high tourist season, when approximately 25,000 people visit the area every week.”
Other tenants include East Carolina Bank and Domino’s Pizza.
The acquisition brings Inland Diversified’s retail portfolio in North Carolina to more than 500,000 square feet. The company’s other properties in the state include Northcrest Shopping Center and Perimeter Woods Shopping Center, both located in Charlotte.
About Inland Diversified Real Estate Trust, Inc.
Inland Diversified Real Estate Trust, Inc. is a public, non-listed real estate investment trust focused on acquiring a diversified portfolio of commercial real estate assets in various property categories, including: grocery-anchored shopping centers, necessity-based retail assets, single-tenant office and multi-family assets. As of September 30, 2012, the company owned approximately 9.5 million square feet of commercial real estate, as well as 444 multi-family units, in 27 states, with a portfolio of approximately $1.8 billion in assets. For additional information, please refer to www.inlanddiversified.com.