Mar
08

Inland Acquires Wal-Mart Anchored Center in Anderson, SC

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According to Real Capital Analytics (RCA), Anderson Central shopping center, at 651 Hwy 28 Bypass in Anderson, SC has been purchased as part of a portfolio of 16 shopping centers totaling 3.5 million square feet. Inland Real Estate Acquisitions, Inc., the purchasing arm of The Inland Real Estate Group of Companies, Inc., acquired the portfolio for $424 million from a joint venture between TIAA-CREF and Developers Diversified Realty.

Anderson Central, with 223, 211 square feet is anchored by Wal-Mart. The allocated purchase price was $26,634,787, or approximately $119 per square foot. Built in 1999, the center is 96.7% occupied and is situated on 17.79 acres according to RCA.
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