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Inland Has Added More Than $2 Billion in Property in 2005; One of the biggest buyers of 2004, Inland is well ahead of last year's pace OAK BROOK, Ill. -- The Inland Real Estate Group of Companies, Inc. has bought more than $2 billion in property in 2005 for companies it has sponsored. That's almost twice the figure it reached by this date in 2004, and Inland was one of the largest property buyers of that year.
This year's transactions -- all of which are detailed in an attached chart -- amount to more than 12 million square feet of leasable space, and include several trophy properties, such as the 500,000-square-foot Maple Tree Place in Williston, Vt., and The Gateway in Salt Lake City, Utah.
"At this point last year, we had just barely passed the billion dollar mark," said Joe Cosenza, chairman of Inland Real Estate Acquisitions, Inc., the company that negotiated most of the transactions. "We bought $4 billion in property in all of 2004, which made us one of the nation's top real estate buyers. We are now on a pace to surpass that dollar amount easily."
Inland Real Estate Acquisitions, Inc. purchased almost all of the properties, on behalf of companies that are part of or have been sponsored by an affiliate of The Inland Real Estate Group of Companies, Inc. These companies include three real estate investment trusts: Inland Western Retail Real Estate Trust, Inc., Inland Retail Real Estate Trust, Inc. and Inland Real Estate Corporation. The list also includes two properties purchased for Inland Real Estate Exchange Corporation.
Inland's 2005 buying spree
The following table shows all of the properties Inland has purchased in 2005, starting with the most recent. Several of these properties have not been disclosed before in a press release.
"Inland Western" is short for Inland Western Retail Real Estate Trust, Inc. "Inland Retail" stands for Inland Retail Real Estate Trust, Inc. IRC stands for Inland Real Estate Corporation. IREX stands for Inland Real Estate Exchange Corporation. Some of the listed purchase prices include earn-outs.
--The purchases of properties designated with a footnote "(1)" have not yet closed. The price listed reflects the amount of a loan provided by Inland Western to the seller on the date shown.
Property name Location Date Square Price Owner
acquired feet (in
millions)
----------------------------------------------------------------------
Southwest Fort Worth, TX June 8 113,528 $24.9 Inland
Crossing Western
----------------------------------------------------------------------
Beachway Plaza Bradenton, FL June 8 120,990 $17 Inland
Western
----------------------------------------------------------------------
Galvez Galveston, TX June 7 30,197 $8.1 Inland
Shopping Western
Center
----------------------------------------------------------------------
Wickes Naperville, IL May 27 41,331 $8.5 Inland
Furniture Western
Store
----------------------------------------------------------------------
CVS Pharmacy Lawton, OK May 26 10,908 $2.8 Inland
Western
----------------------------------------------------------------------
Eckerd Atlanta, GA May 25 10,908 $2.2 Inland
Pharmacy Western
----------------------------------------------------------------------
Maple Tree Williston, VT May 20 507,615 $102.33 Inland
Place Western
----------------------------------------------------------------------
Hewitt Lincolnshire, IL May 20 1,161,686 $220 Inland
Associates, Inc. Western
corporate campus
----------------------------------------------------------------------
Chantilly Chantilly, VA May 20 80,044 $27.8 Inland
Crossing Western
----------------------------------------------------------------------
Ashland & Chicago, IL May 20 111,473 $24.1 Inland
Roosevelt Western
Shopping
Center
----------------------------------------------------------------------
Gloucester Gloucester May 20 108,420 $22.5 Inland
Town Center Township, NJ Western
----------------------------------------------------------------------
Cornerstone Cocoa Beach, FL May 20 68,577 $14.25 Inland
Plaza Western
----------------------------------------------------------------------
Golfland Plaza Orange, CT May 20 57,976 $13.9 Inland
Western
----------------------------------------------------------------------
Heather Island Ocala, FL May 20 70,970 $9.47 Inland
Plaza Retail
----------------------------------------------------------------------
Eckerd Colesville, MD May 20 13,361 $7.4 Inland
Pharmacy Western
----------------------------------------------------------------------
Commons at Royal Palm May 18 158,159 $24.7 Inland
Royal Palm Beach, FL Western
----------------------------------------------------------------------
Crossroads North May 18 16,000 $5.88 Inland
Plaza Attleborough, MA Western
----------------------------------------------------------------------
Boston Commons Springfield, MA May 18 103,070 $14.7 Inland
Western
----------------------------------------------------------------------
Birkdale Huntersville, NC May 16 14,225 $5.63 Inland
Village Retail
outlot
----------------------------------------------------------------------
Lakepointe Lewisville, TX May 13 193,788 Confidential Inland
Towne Western
Crossing
----------------------------------------------------------------------
CVS Pharmacy Moore, OK May 13 13,813 $3.4 Inland
Western
----------------------------------------------------------------------
The Gateway Salt Lake City, UT May 12 628,626 Confidential Inland
Shopping Western
Center
----------------------------------------------------------------------
Peoria Peoria, AZ May 11 14,776 $4.7 Inland
Crossings Western
Phase II
----------------------------------------------------------------------
Bisys Group, Columbus, OH May 10 238,641 $47.8 IREX
Inc. office
building
----------------------------------------------------------------------
Village Gainesville, GA May 6(1) 229,838 $35.05(1) Inland
Shoppes at Western
Gainesville(1)
----------------------------------------------------------------------
Circuit City Richmond, VA May 5 382,570 $53 Inland
corporate Western
headquarters
----------------------------------------------------------------------
Fisher Kalamazoo, MI May 3(1) 114,700 $14(1) Inland
Scientific(1) Western
----------------------------------------------------------------------
Edwards Fresno, CA May 2 94,600 $33.4 Inland
Megaplex Western
Theater
----------------------------------------------------------------------
Page Field Ft. Meyers, FL May 2 322,051 $46.5 Inland
Commons Western
----------------------------------------------------------------------
University University May 2 287,172 $54.48 Inland
Square Heights, OH Western
Property name Location Date Square feet Price Owner
(in
millions)
----------------------------------------------------------------------
Clearlake Clear Lake, TX April 29 60,155 $12.15 Inland
Shores Western
----------------------------------------------------------------------
Vail Ranch Temecula, CA April 29 101,784 $24.5 Inland
Plaza Western
----------------------------------------------------------------------
Brown's Middletown, RI April 29 74,715 $11.4 Inland
Lane Western
----------------------------------------------------------------------
Boulevard Pawtucket, RI April 29 108,897 $17.06 Inland
Plaza Western
----------------------------------------------------------------------
Massillon Massillon, OH April 29 245,993 $18.4 Inland
Village Western
Center
----------------------------------------------------------------------
Cuyahoga Cuyahoga April 29 76,361 $15.06 Inland
Falls Market Falls, OH Western
Center
----------------------------------------------------------------------
Edwards Ontario, CA April 29 124,614 $47.2 Inland
Megaplex Western
Theater
----------------------------------------------------------------------
The Commons Temecula, CA April 29 292,661 $51.5 Inland
at Temecula Western
----------------------------------------------------------------------
Northgate Sheboygan, WI April 29 74,700 $9.7 IRC
Shopping
Center
----------------------------------------------------------------------
Orland Park Orland Park, April 28 598,054 $76.9 IRC
Place IL
----------------------------------------------------------------------
HH Gregg Cincinnati, OH April 25 48,820 $5.3 IREX
Store
----------------------------------------------------------------------
Bison Hollow Traverse City, April 20 134,798 $19.5 Inland
Shopping MI Western
Center
----------------------------------------------------------------------
Publix Mountain April 19 44,271 $7.97 Inland
Brook, AL Western
----------------------------------------------------------------------
Grapevine Grapevine, TX April 18 125,381 Confidential Inland
Crossing Western
Shopping
Center
----------------------------------------------------------------------
Bear Creek Houston, TX April 18 87,912 Confidential Inland
Shopping Western
Center
----------------------------------------------------------------------
North Hampton Greer, SC April 18 114,926 $16.15 Inland
Market I & II Retail
----------------------------------------------------------------------
Circuit City Dothan, AL April 15 33,906 $6.59 Inland
Retail
----------------------------------------------------------------------
Walgreens West Allis, WI April 14 13,956 $4.4 Inland
pharmacy Western
----------------------------------------------------------------------
Greensburg Greensburg, IN April 13 272,893 $24.2 Inland
Commons Western
----------------------------------------------------------------------
Walgreens Northwoods, MO April 11 16,335 $5.85 Inland
pharmacy Western
----------------------------------------------------------------------
The Brickyard Chicago, IL April 1 264,353 $90 Inland
Western
----------------------------------------------------------------------
Lake Forest McKinney, TX March 30 29,899 Confidential Inland
Crossing Western
Shopping
Center
----------------------------------------------------------------------
Four Peaks Fountain March 30 140,631 $31 Inland
Plaza Hills, AZ Western
----------------------------------------------------------------------
CVS Drug Saginaw, TX March 29 13,824 Confidential Inland
Store Western
----------------------------------------------------------------------
Blockbuster Simpsonville, March 23 6,000 $1.5 Inland
at Five NC Western
Forks
----------------------------------------------------------------------
Cinemark Woodridge, IL March 23 70,183 $15.65 Inland
Theatre Western
----------------------------------------------------------------------
CVS Drug Montevallo, AL March 23 10,055 $3.06 Inland
Store Western
----------------------------------------------------------------------
American Salt Lake March 21 395,787 $48 Inland
Express City, UT Western
(sale-leaseback)
----------------------------------------------------------------------
Oakland Oakland, TN March 15 64,600 $5.5 Inland
Marketplace Retail
----------------------------------------------------------------------
Stateline Kansas City, March 8 141,686 $32 Inland
Station MO Western
----------------------------------------------------------------------
High Ridge High Ridge, MO March 8 76,857 $13.2 Inland
Crossings Western
----------------------------------------------------------------------
Southgate Heath, OH March 4 86,010 $12.25 Inland
Plaza Western
----------------------------------------------------------------------
Mapleview Crystal Lake, March 4 198,574 $40.75 IRC
Shopping IL
Center
---------------------------
Showplace Grayslake, IL
Theatre
Center
----------------------------------------------------------------------
CarMax San Antonio, March 4 60,772 Confidential Inland
TX Western
----------------------------------------------------------------------
CVS Pharmacy Jacksonville, March 1 13,824 $5.89 Inland
FL Western
----------------------------------------------------------------------
Trenton McAllen, TX Feb. 18 249,635 Confidential Inland
Crossing Western
----------------------------------------------------------------------
Holliday Town Duncansville, Feb. 11 83,122 $14.7 Inland
Center PA Western
----------------------------------------------------------------------
Village at Oklahoma City, Feb. 9 100,671 $10.45 Inland
Quail OK Western
Springs
----------------------------------------------------------------------
Cottage Plaza Pawtucket, RI Feb. 2 83,903 $23.4 Inland
Western
----------------------------------------------------------------------
Magnolia Houma, LA Feb. 2 116,079 $18.26 Inland
Square Western
Property name Location Date Square feet Price Owner
(in
millions)
----------------------------------------------------------------------
Academy Sports San Antonio, Jan. 28 70,910 Confidential Inland
& Outdoors TX Western
(sale-leaseback)
----------------------------------------------------------------------
American Markham, Jan. 25 306,710 $42 Inland
Express Ontario, Western
(sale-leaseback) Canada
----------------------------------------------------------------------
Stanley Works Westerville, Jan. 19 72,500 $10 Inland
Office Bldg. OH Western
----------------------------------------------------------------------
Greentree Caledonia, WI Jan. 11 159,268 $11.8 IRC
Centre
----------------------------------------------------------------------
Midtown Center Milwaukee, WI Jan. 10 319,068 $53 Inland
Western
----------------------------------------------------------------------
Hobby Lobby Kannapolis, Jan. 10 60,000 $5.5 Inland
NC Western
----------------------------------------------------------------------
Maytag Iowa City, IA Jan. 6 750,000 $23.15 Inland
Distribution Western
Center
----------------------------------------------------------------------
Fairgrounds Middletown, Jan. 5 98,021 $27.4 Inland
Plaza NY Western
----------------------------------------------------------------------
TOTAL 12,014,087 $2,040.7
The Inland Real Estate Group of Companies, Inc. (www.inlandgroup.com) comprises independent real estate investment and financial companies doing business nationwide. Collectively The Inland Real Estate Group of Companies is the fifth largest shopping center owner in North America. With more than 30 years of experience specializing in acquisition, auctions, commercial real estate brokerage, investment, property management, land development and mortgage lending, Inland is one of the nation's largest commercial real estate companies. Inland's national headquarters is in Oak Brook, Ill.
COPYRIGHT 2005 Business Wire
COPYRIGHT 2005 Gale Group
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