OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Diversified Real Estate Trust, Inc. (“Inland Diversified”) announced today the acquisition of One Hasbro Place, toymaker Hasbro’s U.S. corporate headquarters for operations, located in Providence, R.I. The 135,908-square-foot office property was purchased for approximately $29.8 million. Hasbro occupies 100 percent of the six-story property, which recently underwent a complete renovation. Joe Cosenza, president of Inland Real Estate Acquisitions, Inc. and a vice chairman of The Inland Real Estate Group, Inc., facilitated the transaction on behalf of Inland Diversified.
“Hasbro has directed a complete remodel of this building and plans to move approximately 300 employees to the area and make it their new U.S. headquarters for sales and marketing,” Cosenza said. “We believe that their substantial financial investment in the property indicates a desire to remain in One Hasbro Place for the long term. With a BBB+ rating from Standard and Poor’s and a stable of some of the most popular toy brands, we believe Hasbro is a very strong tenant for a property of this type and an asset to downtown Providence, R.I.”
Toy brands sold by Hasbro include Star Wars, Transformers, Playskool, Nerf, My Little Pony, G.I. Joe, Trivial Pursuit and Parker Brothers.
About Inland Diversified Real Estate Trust, Inc.
Inland Diversified Real Estate Trust, Inc. is a public, non-listed real estate investment trust focused on acquiring a diversified portfolio of commercial real estate assets in various property categories, including: grocery-anchored shopping centers, necessity-based retail assets, single-tenant office and multi-family assets. As of September 30, 2012, the company owned approximately 9.5 million square feet of commercial real estate, as well as 444 multi-family units, in 27 states, with a portfolio of approximately $1.8 billion in assets. For additional information, please refer to www.inlanddiversified.com.