DOWNERS GROVE, III.--(BUSINESS WIRE)--InvenTrust Properties Corp. (“InvenTrust” or the “Company”) today announced the acquisition of Trowbridge Crossing, a 62,600 square foot center anchored by Publix in Sandy Springs, Georgia, for $11 million.
“Trowbridge Crossing brings a strong performing Publix-anchored center to our portfolio in a desirable submarket of Atlanta,” said Christy David, Chief Investment Officer for InvenTrust. “Through this transaction, we are expanding our presence in one of our identified strategic markets. Sandy Springs is home to several corporate headquarters, including UPS and Mercedes-Benz USA, and supports favorable demographics.”
David continued, “The acquisition pipeline for InvenTrust is strong as we anticipate being a net buyer in 2020.”
Trowbridge Crossing is situated in a highly-trafficked submarket, anchored by long-time tenant Publix. The center also features national tenants including the U.S. Postal Service, Great Clips, T-Mobile and Domino’s Pizza, as well as other retailers and restaurants. The property is 100% leased and was recently upgraded with new LED lights to improve energy efficiency and illumination for the center.
About InvenTrust Properties Corp.
InvenTrust Properties Corp. is a premier multi-tenant retail REIT that owns, leases, redevelops, acquires and manages grocery anchored neighborhood centers, and select power centers that often have a grocery component, in Sun Belt markets with favorable demographics. We seek to continue to execute our strategy to enhance our multi-tenant retail platform by further investing in grocery-anchored centers with essential retail in our current markets, while exhibiting focused and disciplined capital allocation. InvenTrust became a self-managed REIT in 2014 and a Global Real Estate Sustainability Benchmark ("GRESB") member in 2018. As of December 31, 2019, the company is an owner and manager of 65 retail properties, representing 10.9 million square feet of retail space.
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