Inland expands portfolio in South

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Inland Western Retail Real Estate Trust has made its first two purchases in Tennessee, and also purchased a property in South Carolina. The total value of the transactions was approximately $59.8 million. The Columns, purchased for $20.8 million, is a shopping center located at 1300 Vann Drive in Jackson, Tenn., which is 85 miles east of Memphis. The 173,587-square-foot center is newly constructed with approximately 45,000 square feet to be completed by late November. When the second phase is complete, the shopping center will include a 30,000-square-foot Best Buy, a 28,000-square-foot Marshall's, a 14,800-square-foot Old Navy, a 20,1870-square-foot Ross Dress for Less, a 20,000-square-foot Bed Bath & Beyond, and an assortment of other national, regional and local tenants. Harvest Towne Center, purchased for $8.95 million, is located at 4824 N. Broadway St. in the heart of the Knoxville, Tenn., retail corridor. Featuring 32,965 square feet of retail space, the property includes ...