InvenTrust Properties acquires Kennesaw Marketplace

InvenTrust Properties Corp. in Downers Grove said today that it acquired Kennesaw Marketplace, an 114,000-square-foot Whole Foods-anchored new development located 24 miles northwest of Atlanta, for $64.3 million.

"This transaction advances InvenTrust's strategy, providing grocer diversification within the Company's Atlanta portfolio," said Michael E. Podboy, chief financial officer, chief investment officer of InvenTrust. "Developed in 2017, the Marketplace requires minimal capital investment, while providing significant upside for InvenTrust due to Whole Foods' extended drawing power and the region's favorable demographics. The acquisition continues InvenTrust's strategy of acquiring high quality, grocery-anchored assets."

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.