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 Schnuck Markets Inc. 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 our investment philosophy.”