Inland Real Estate Acquisitions, Inc. has purchased the grocery-anchored shopping center in St. Cloud, Florida. The shopping center known as the Publix Shopping Center was acquired for $9.363 million. This commercial real estate investment was constructed in 2003.
This net leased 78,820 square-foot Publix Shopping Center is currently 100% leased. Anchored by Publix Super Markets, Inc., which is the dominant supermarket chain operating in Florida. Publix has proven to be a very strong anchor for this shopping center.
The net leased property is located across from a Wal-Mart Supercenter and a Home Depot. This St. Cloud shopping center is approximately 20 miles south of the Orlando International Airport.
The Publix Shopping Center is leased to sixteen tenants. With this net lease, each tenant is required to pay its proportionate share of real estate taxes, insurance and common area maintenance costs. Publix, the anchor tenant of this property pays an annual base rent of approximately $536,000 under a lease that expires in October 2023.