Inland American Real Estate Trust, Inc. Purchases Bryant Square Shopping Center in Oklahoma
OAK BROOK, Ill.--(BUSINESS WIRE)--Inland American Real Estate Trust, Inc. (“Inland American”) announced today the acquisition of the 275,466-square-foot Bryant Square Shopping Center located in Edmond, Oklahoma, a northern suburb of Oklahoma City. The property was purchased for $33.7 million.
“This power center, with a grocery component, is a terrific addition to our retail portfolio due to its solid national tenant line-up, strong demographics and an ideal location trafficked by more than 40,000 vehicles per day”
Bryant Square Shopping Center is 94 percent leased and tenants include Old Navy, Dollar Tree, Ross Dress for Less, Bed Bath & Beyond and Petco, among others. The property is shadow-anchored by a Super Target, Lowe’s and Walmart Neighborhood Center, none of which were acquired.
Well positioned at one of the most highly traveled intersections in the retail trade area, the property draws 65,000 consumers within a three-mile radius of the center. In addition, Bryant Square serves the 20,000-student campus at the University of Central Oklahoma and the nearby Edmond branch of the OU Medical Center.
“This power center, with a grocery component, is a terrific addition to our retail portfolio due to its solid national tenant line-up, strong demographics and an ideal location trafficked by more than 40,000 vehicles per day,” said Christopher Covey, senior vice president of transactions for Inland American. “Bryant Square is a dominant retail property in the Edmond area and is well positioned for future growth.”
About Inland American Real Estate Trust, Inc.
Inland American Real Estate Trust, Inc. manages a large portfolio of commercial real estate assets with a focus on three asset classes - lodging, multi-tenant retail and student housing. As of June 30, 2014 Inland American owned 268 properties, representing approximately 24 million square feet of retail, industrial and office properties, 8,313 student housing beds and 19,927 hotel rooms. For further information regarding Inland American, please refer to the company website at www.inlandamerican.com.