Inland buys shopping centers

Inland Real Estate Acquisitions Inc. announced Monday the $67 million acquisition of two shopping centers on behalf of Inland Diversified Real Estate Trust Inc.

Draper Crossing in Draper, Utah, a 166,845-square-foot grocery-anchored shopping center, was purchased for $23.5 million. About 20 miles from Salt Lake City at the foot of the Rocky Mountains, Draper Crossing was constructed in 1998 and expanded in 2003. The shopping center was 96 percent leased at closing and is anchored by Smith's Food & Drug, a subsidiary of Kroger, one of the nation's largest retail food companies. Also Regal Court in Shreveport, La. a 343,457-square-foot shopping center anchored by JC Penny, was acquired for $43.5 million, the company said.

Regal Court was completed in 2008 and was 96 percent leased at closing.