OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Real Estate Income Trust, Inc. (“Inland Income Trust”) announced today the acquisition of the 126,288-square-foot MidTowne Shopping Center in Little Rock, Arkansas. Lou Quilici, senior vice president of IREIT Business Manager & Advisor, Inc., assisted Matthew Tice, vice president of Inland Real Estate Acquisitions, Inc., in the purchase of the property.
Well positioned at the corner of University Avenue and Markham Street, MidTowne Shopping Center is located within a main retail corridor and across the street from Park Avenue Shopping Center, a property Inland Income Trust purchased in February 2014. MidTowne Shopping Center complements the necessity-based offerings of the Park Avenue Shopping Center by catering to a variety of local consumers from two nearby university campuses, a major area hospital and downtown Little Rock, which is located just five miles to the west.
MidTowne Shopping Center is 95.6 percent occupied and leased to 22 tenants, including The Container Store, Pottery Barn, Ulta and Williams-Sonoma.
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.
About IREIT Business Manager & Advisor, Inc.
IREIT Business Manager & Advisor, Inc., an Illinois corporation and a wholly owned subsidiary of Inland Real Estate Investment Corporation, is the business manager of Inland Real Estate Income Trust, Inc. In addition to its other duties for Inland Real Estate Income Trust, Inc., IREIT Business Manager & Advisor, Inc. focuses on identifying and acquiring real estate assets for Inland Real Estate Income Trust.
