Oak Brook, Ill. – Inland Real Estate Income Trust, Inc. (“Inland Income Trust”) announced today the acquisition of the 111,558-square-foot Blossom Valley Plaza shopping center in Turlock, California, located approximately 15 miles southeast of Modesto, California. Matthew Tice, vice president of Inland Real Estate Acquisitions, Inc., facilitated the purchase of the property on behalf of Inland Income Trust.
“The acquisition of Blossom Valley Plaza was an ideal opportunity to add a stable, necessity-based asset to Inland Income Trust’s growing retail portfolio,” said Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation. “With its solid tenant line-up and strong demographics, drawing nearly 22,000 vehicles per day, this grocery-anchored center aligns with Inland Income Trust’s strategy to acquire high quality multi-tenant retail assets.”
Well situated in Turlock’s main retail corridor, Blossom Valley Plaza is located at 2900 Geer Road and was constructed in 1988. The shopping center provides the approximately 89,000 residents living within a five-mile radius and students of the California State University, Stanislaus campus access to a 60,114-square-foot Raley’s grocery store as well as other necessity-based services.
Blossom Valley Plaza is 100 percent leased, as of the acquisition date, to a roster of national and regional tenants. In addition to the Raley’s grocery store, tenants include Wells Fargo, Supercuts, Subway, Papa John’s, GameStop and Jay’s Tires.
About Inland Private Capital Corporation
Inland Real Estate Income Trust, Inc. was formed to acquire, directly or indirectly, 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.