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IRT PROPERTY COMPLETES ACQUISITION OF FLORIDA SHOPPING CENTER

 ATLANTA, Dec. 30 /PRNewswire/ -- IRT Property Company (NYSE: IRT), the southeastern shopping center REIT, today announced that it had completed the acquisition of Phase II of the North River Village Shopping Center in Ellenton (Bradenton), Fla., for a total purchase price of $5.3 million cash.
 Phase II consists of a newly completed 95,000-square-foot Kmart Store adjacent to Phase I of the center which was purchased by the company in December 1992. Phase I contains approximately 82,000 square feet of retail space anchored by a Publix Supermarket, Walgreen's Drug Store and Beall's Department Store.
 A self-administered equity real estate investment trust (REIT), IRT specialized in southeastern United States shopping centers. Anchor tenants include Wal-Mart, Kmart, and Harris Teeter, Publix and Kroger supermarkets. The portfolio of 68 shopping center investments represents approximately 6.9 million square feet of retail space.
 -0- 12/30/93
 /CONTACT: Mary M. Thomas, executive vice president and treasurer, IRT Property, 404-955-4406/
 (IRT)


CO: IRT Property Company; North River Village Shopping Center, Phase II ST: Florida IN: SU: RLE

BR-TG -- AT002 -- 8017 12/30/93 10:51 EST
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Publication:PR Newswire
Date:Dec 30, 1993
Words:183
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