InvenTrust Buys Publix-Anchored Property Near Atlanta
InvenTrust Properties Corp., a publicly registered non-traded real estate investment trust, has purchased Trowbridge Crossing located in the Atlanta suburb of Sandy Springs, Georgia for $11 million.
InvenTrust Properties Corp., a publicly registered non-traded real estate investment trust, has purchased Trowbridge Crossing located in the Atlanta suburb of Sandy Springs, Georgia for $11 million.
“Through this transaction, we are expanding our presence in one of our identified strategic markets, said Christy David, chief investment officer for InvenTrust. “Sandy Springs is home to several corporate headquarters, including UPS and Mercedes-Benz USA, and supports favorable demographics.”
Trowbridge Crossing is a 62,600-square-foot retail center anchored by Publix grocery story, a long-time tenant at the property. The property is 100 percent leased to tenants that include the U.S. Postal Service, Great Clips, T-Mobile and Domino’s Pizza, as well as other retailers and restaurants.
In recent company news, InvenTrust promoted Christy David from executive vice president, general counsel and corporate secretary to chief investment officer.
InvenTrust Properties, formerly known as Inland American Real Estate Trust, focuses on acquiring grocery-anchored open-air centers in in Sun Belt growth markets. The offering was declared effective in August 2005, and the company became a self-managed REIT in 2014, overseeing a multi-billion-dollar portfolio of 65 retail properties, representing 10.9 million square feet of retail space, as of December 31, 2019.
