HOUSTON – Inland Real Estate Acquisitions, Inc., the purchasing arm of The Inland Real Estate Group of Companies announced its $172 million acquisition of a five-property portfolio from NewQuest Properties in Houston and League City, Texas.
The portfolio includes a variety of multi-tenant and single tenant assets with over 710,000 square feet of retail space. Four of the five properties are developments that are adjacent or additions to assets that Inland American already owns. The average occupancy for the portfolio is over 90% and includes a high quality tenant lineup of Kohl’s, Kroger, Lowe’s, Sports Authority, 24 Hour Fitness, Best Buy, Cinemark and Dollar Tree.
Summary of Properties
Bay Colony Town Center – League City, Texas
- This adds 121,000 sq. ft. to the center Inland American already owns.
- 95% occupied
Cy Fair Town Center – Houston, Texas
- This adds 177,064 sq. ft. to the center Inland American already owns.
- 100% occupied
Antoine Town Center – Houston, Texas
- One Pad added to a center Inland American already owns.
Victory Lakes Town Center – League City, Texas
- New center adds 367,000 sq. ft. to Inland American’s portfolio.
- 90% occupied
Eldridge Lakes – Houston, Texas
- This adds 45,000 sq. ft to a center Inland American already owns.
- 100% occupied