OAK BROOK, ILL.—Inland Real Estate Acquisitions Inc. has acquired The Shops at Moore in Moore, Okla., for $38.75 million. Matt Tice, vice president of Inland Real Estate Acquisitions, facilitated the transaction on behalf of Inland Diversified Real Estate Trust Inc.
“We have acquired a number of properties in Oklahoma. All have performed very well and we believe The Shops at Moore is another strong asset,” Tice said. “The tenants are all very pleased with their performance at the center, which benefits from a great location just outside of Oklahoma City.”
Completed in 2008, the 259,996-sq.-ft. shopping center is anchored by JC Penney. Additional tenants at The Shops at Moore include Ross Dress for Less, Best Buy, Bed Bath & Beyond,Depot, and Famous Footwear, among others.
Located in the Oklahoma City metro area, the population in a five-mile radius from the center is approximately 195,000 people, with average household incomes of around $39,000. The unemployment rate in Oklahoma was 4.7 percent in June 2012, below theaverage of 8.2 percent for the same month.