OAK BROOK, ILL.—Inland Diversified Real Estate Trust Inc. has acquired six triple-net-leased grocery properties in two portfolio acquisitions, with a total combined purchase price of approximately $71.4 million.
The acquisitions include the $22.6 million purchase of three fully leased SchnuckInc. grocery stores in Missouri, as well as three Pathmark grocery stores located in Delaware, Pennsylvania and New York, which were acquired for approximately $48.8 million.
Matt Tice, vice president of Inland Real Estate Acquisitions Inc., facilitated the transactions on behalf of Inland Diversified.
“These acquisitions further strengthen our portfolio of necessity-based grocery properties, which as an asset class have traditionally performed very well across all economic cycles,” said Barry Lazarus, president and chief operating officer of Inland Diversified. “With long-term triple net leases in place, we believe that these assets will offer steady returns that will support our dividend and align with ourphilosophy.”