Oak Brook, Ill. – Inland Real Estate Income Trust, Inc. (“Inland Income Trust” or “the Company”) announced today the Company acquired 11 multi-tenant, necessity-based retail centers in the first quarter of 2015. The acquisitions encompass approximately 1.27 million square feet of commercial retail space in nine states for a total purchase price of $217.5 million.
The properties that were purchased in the first quarter include:
1. Eastside Junction, Athens, Alabama
2. Prattville Town Center, Prattville, Alabama
3. Fairgrounds Crossing, Hot Springs, Arkansas
4. Regal Court, Shreveport, Louisiana
5. Shops at Hawk Ridge, St. Louis, Missouri
6. Whispering Ridge, Omaha, Nebraska
7. Walgreens Plaza, Jacksonville, North Carolina
8. Frisco Marketplace, Frisco, Texas
9. Green Tree Center, Katy, Texas
10. Shoppes at Lake Park, West Valley City, Utah
11. Plaza at Prairie Ridge, Pleasant Prairie, Wisconsin
“We continue to execute on Inland Income Trust’s strategy of acquiring high quality multi-tenant, necessitybased retail centers across the country,” said JoAnn McGuinness, president and chief operating officer of Inland Income Trust. “At the end of the first quarter, the Company’s properties included more than 400 tenants.”
As of March 31, 2015, Inland Income Trust’s total portfolio consisted of 42 retail properties, substantially all of which are necessity-based, totaling approximately 3.8 million square feet and located in 16 states, with an average economic occupancy of 96.2 percent and an aggregate purchase price of more than $663 million. For more information on Inland Income Trust’s first quarter results, visit: http://www.sec.gov/Archives/edgar/data/1528985/000089262615000195/ireit-q20150331.htm.
About Inland Real Estate Income Trust, Inc.
Inland Real Estate Income Trust, Inc. was formed to acquire, directly or through joint ventures, a portfolio of commercial real estate located throughout the United States. Inland Real Estate Income Trust, Inc. is focused on acquiring primarily core multi-tenant retail assets. Inland Real Estate Income Trust, Inc. is sponsored by Inland Real Estate Investment Corporation.