PRESS ROOMNEWS RELEASE
Inland Real Estate Acquisitions, Inc. Acquires 49 CVS Pharmacy Properties Across 16 States
Nicole SpreckInland Marketing & Communications, Inc.
Oak Brook, Ill. – Inland Real Estate Acquisitions, Inc. announced today that it facilitated the acquisition of 49 newly developed CVS Pharmacy properties, totaling 651,216 square feet across 16 states, for a total purchase price of more than $211 million. Joe Cosenza, vice chairman of The Inland Real Estate Group, Inc. and president of Inland Real Estate Acquisitions, facilitated the transaction on behalf of an Inland affiliate, with the help of David Neboyskey and Kristin Orlando, in-house counsels.
“I like CVS, I like the properties, and the investment is good for Inland,” said Cosenza. “This was an attractive acquisition opportunity due to the fact that we were able to buy all 49 CVS stores in one transaction.”
The CVS Pharmacy properties are located in Arizona, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Ohio, Oklahoma, Missouri, Nebraska, Tennessee, Texas, Utah and Vermont.
To date, Inland Real Estate Acquisitions, Inc. has facilitated more than $44 billion of purchases including $13 billion single tenant properties in addition to retail centers, apartments, medical office, student housing, and self-storage facilities.
About Inland Real Estate Acquisitions, Inc.
Inland Real Estate Acquisitions, Inc. is the purchasing arm for various entities that are a part of The Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). For additional information, please refer to Inland’s website at www.inlandgroup.com.