DOWNERS GROVE, Ill.–(BUSINESS WIRE)–InvenTrust Properties Corp. (“InvenTrust”, “IVT”, or the “Company”) today announced the acquisition of Sandy Plains Centre, a 124,000 square foot center anchored by Kroger Co. and Pets Supply Plus in Marietta, Georgia, for $44.2 million.
“Through this transaction, we expand our existing shopping center portfolio in Atlanta. This asset’s location in Marietta affords favorable demographics and compelling opportunities for future revenue growth”
“Through this transaction, we expand our existing shopping center portfolio in Atlanta. This asset’s location in Marietta affords favorable demographics and compelling opportunities for future revenue growth,” said Christopher Covey, Senior Vice President of Transactions for InvenTrust. “Developed in 1997, Sandy Plains Centre boasts a stable tenant base featuring Kroger, the region’s number-one grocer, as well as other nationally-recognized, fast-growing retailers and restaurants.”
For 2018, InvenTrust has acquired over $220 million in new grocery-anchored assets, advancing the Company’s strategy of acquiring high quality, grocery-anchored assets in key growth markets.
Sandy Plains Centre is an established center in a high-trafficked area in close proximity to other IVT-owned assets. The property features national tenants such as AT&T, Great Clips, Jersey Mike’s, OrangeTheory Fitness and MassageEnvy, as well as other shops, services and restaurants.
About InvenTrust Properties Corp.
InvenTrust Properties Corp. is a pure-play retail company with a focus on acquiring grocery-anchored open-air centers in key growth markets with favorable demographics. This disciplined acquisition strategy, along with our innovative and collaborative property management approach, ensures the success of both our tenants and business partners and drives net operating income growth for the Company. InvenTrust became a self-managed REIT in 2014 and a Global Real Estate Sustainability Benchmark (“GRESB”) member in 2018. As of September 30, 2018, the company is an owner and manager of 77 retail properties, representing 13.5 million square feet of retail space.
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