{"id":1004057600,"date":"2013-01-14T07:53:05","date_gmt":"2013-01-14T15:53:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004057600"},"modified":"2020-05-13T02:02:22","modified_gmt":"2020-05-13T10:02:22","slug":"inland-american-acquires-two-necessity-based-shopping-centers-for-95m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/inland-american-acquires-two-necessity-based-shopping-centers-for-95m\/","title":{"rendered":"Inland American Acquires Two Necessity-Based Shopping Centers for $95M"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

Inland American Real Estate Trust, Inc. has purchased two necessity-based shopping centers in Oklahoma and Texas for a combined total of approximately $94.7 million.<\/p>\n

The transaction includes Rockwell Plaza, a 254,690-square-foot shopping center in Oklahoma City, Ok., and Stone Ridge Market, a 218,436-square-foot shopping center located in San Antonio, Texas.<\/p>\n

\u201cBoth properties contain a diverse tenant mix with ideal locations in high-traffic retail corridors,\u201d Jeff Manno, Inland American Real Estate Trust\u2019s vice president of acquisitions, told Commercial Property Executive<\/em>. \u201cIn addition, both Rockwell Plaza and Stone Ridge Market offer complete and diverse mixes of high-performing national tenants combined with strong, necessity-based retailers and shadow anchors.\u201d<\/p>\n

Inland America had been looking to build on its multi-tenant, necessity-based retail investment portfolio.<\/p>\n

\u201cBoth of these properties are located in growing metropolitan areas with low unemployment averages,\u201d Manno said. \u201cTheir demographics and positions for growth are well suited to our long-term strategy of investing in multi-tenant, necessity-based retail properties.\u201d<\/p>\n

Rockwell Plaza provides a diverse mix of more than 40 tenants and draws additional traffic from the center\u2019s shadow-anchor, Target. It also benefits from the other high-traffic retail centers in the corridor, including Home Depot, Sam\u2019s Club and Office Depot.<\/p>\n

\u201cRockwell Plaza in Oklahoma City offers many attractive features that played a key role in our interest in the property. First, the center\u2019s location at the intersection of Northwest Expressway and Rockwell Avenue allows for exposure to more than 66,000 vehicles daily,\u201d Manno said. \u201cIn addition, approximately 161,000 residents live within a five-mile radius and over 500,000 consumers live within a 20 minute drive of the center, making the buying power in the region exceptional.\u201d<\/p>\n

Located in one of the fastest-growing metropolitan areas in the nation, Stone Ridge Market is strategically located at the northwest quadrant of U.S. Highway 281 and Evans Road Junction in San Antonio, drawing from a customer base that expands as far as 15 miles north of San Antonio.<\/p>\n

\u201cThe center integrates a broad merchandising mix of destination-oriented tenants, including PetSmart, Sports Authority and Half Price Books,\u201d Manno said. \u201cThe property is also shadow-anchored by the strong necessity-based retailer, H-E-B, and its newest store format, a 168,000-square-foot HEB plus! store.\u201d<\/p>\n

As of September 30, 2012 Inland American owned, directly or indirectly through joint ventures in which it has a controlling interest, 887 properties, representing approximately 48 million square feet of retail, industrial and office properties, 8,564 multi-family units and 16,098 lodging rooms.<\/p>\n

Like us on facebook:<\/strong> https:\/\/www.facebook.com\/pages\/Commercial-Property-Executive\/258033884191<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Inland American Real Estate Trust has purchased two necessity-based shopping centers in Oklahoma and Texas for a combined total of approximately $95 million. <\/p>\n","protected":false},"author":451,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749],"tags":[],"class_list":["post-1004057600","post","type-post","status-publish","format-standard","hentry","category-investment","category-latest","category-retail"],"acf":[],"yoast_head":"\nInland American Acquires Two Necessity-Based Shopping Centers for $95M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/inland-american-acquires-two-necessity-based-shopping-centers-for-95m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inland American Acquires Two Necessity-Based Shopping Centers for $95M\" \/>\n<meta property=\"og:description\" content=\"Inland American Real Estate Trust has purchased two necessity-based shopping centers in Oklahoma and Texas for a combined total of approximately $95 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/inland-american-acquires-two-necessity-based-shopping-centers-for-95m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-01-14T15:53:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-13T10:02:22+00:00\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/inland-american-acquires-two-necessity-based-shopping-centers-for-95m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/inland-american-acquires-two-necessity-based-shopping-centers-for-95m\/\",\"name\":\"Inland American Acquires Two Necessity-Based Shopping Centers for $95M - 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