Inland Western lands two Alabama properties

REIT gains retail space in separate transactions

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Inland Western Retail Real Estate Trust recently purchased two newly constructed properties in Alabama: University Town Center in Tuscaloosa and Edgemont Town Center in Homewood.   University Town Center, which Inland Western bought for $10.6 million, is located along University Boulevard on Campus Drive at the University of Alabama in Tuscaloosa. Tuscaloosa is about 57 miles southwest of Birmingham, on the Black Warrior River.   University Town Center is anchored by a 28,800-square-foot Publix supermarket. The 15 other tenants of the center include Cold Stone Creamery, Qdoba Mexican Grill, Private Gallery, Firehouse Subs, The UPS Store and The Movie Gallery.   Inland Western will lease the ground beneath the buildings from the University of Alabama. The buildings in the shopping center will be owned by Inland. The center has opened in phases over the last two years.   In a separate transaction, Inland Western bought the Edgemont Town Center property for $15.6 mill...