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Inland Real Estate Acquisitions, Inc., one of the biggest shopping center owners in North America, has added four properties to its portfolio.  The Oak Brook, IL-based firm paid $80.6 million for centers in Florida, Georgia and North Carolina.

The company purchased the assets for its subsidiary, Inland Diversified Real Estate Trust, Inc.

In a prepared statement, the company said about $54 million went toward the acquisition of Perimeter Woods Shopping Center in Charlotte, NC.

The remainder, about $26.6 million, was for the purchase of three Walgreens-anchored shopping centers located in Florida, Georgia and North Carolina.

Matt Tice, vice president of Inland Real Estate Acquisitions, assisted in the purchase of the 303,353-square-foot Perimeter Woods, which is anchored by Lowe's and Best Buy.

"Aside from a strong line-up of national retailers, the acquisition of Perimeter Woods increases Inland Diversified's retail footprint in the area," Tice said. "The property is located across from NorthCrest Shopping Center, a center we acquired in March from the same seller, giving Inland Diversified control of adjacent retail corners."

Perimeter Woods was about 97 percent leased at closing. Additional tenants include PetSmart, Off Broadway Shoes and Office Max.

Mark Cosenza, vice president of Inland Real Estate Acquisitions, participated in the purchase of the three Walgreens-anchored properties: a 21,370-square-foot center in Lake Mary, Florida; a 22,385-square-foot center in Conyers, Georgia and a 42,219-square-foot center in Jacksonville, North Carolina.

"All three of these shopping centers are recently constructed or redeveloped and located in what we believe are stable markets with good demographics," Cosenza said.

"Walgreens is the primary tenant at each of the centers, occupying 25-year triple net leases that extend through 2036. The addition of the strip center portions provides for growth through existing leases and the ability to further increase returns with additional lease-up."

"We believe that these stabilized retail centers, leased to national credit tenants, complement our existing retail portfolio," said Barry Lazarus, president and chief operating officer of Inland Diversified.

"The purchase of Perimeter Woods, our second in Charlotte, demonstrates our confidence in the market, and we believe the Walgreens-anchored centers offer the stability of a leading necessity-based retailer."

As of Dec. 31, 2010, Inland-sponsored companies owned and managed in total over 126.1 million square feet of diversified commercial real estate in 47 states, as well as managed assets in excess of $25.1 billion.

Inland Diversified Real Estate Trust, Inc. is a public, non-listed real estate investment trust (REIT) that focuses on acquiring and developing commercial real estate located in the United States and Canada, as well as the potential acquisition of other REITs or real estate operating companies.

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