Inland Real Estate Acquisitions, Inc. has purchased 49 newly developed CVS Pharmacy properties, totaling 651,216 square feet across 16 states, for a total purchase price of more than $211 million.
Joe Cosenza, vice chairman of The Inland Real Estate Group, Inc. and president of Inland Real Estate Acquisitions, closed the transaction on behalf of an Inland affiliate, with the help of David Neboyskey and Kristin Orlando, in-house counsels.
“I like CVS, I like the properties, and the investment is good for Inland,” said Cosenza, in a statement. “This was an attractive acquisition opportunity due to the fact that we were able to buy all 49 CVS stores in one transaction.”
The CVS Pharmacy properties are located in Arizona, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Ohio, Oklahoma, Missouri, Nebraska, Tennessee, Texas, Utah and Vermont.