OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Real Estate Income Trust, Inc. (“Inland Income Trust” or “the Company”) announced today the Company acquired four multi-tenant, necessity-based retail centers and the remaining parcel of a previously-purchased retail center in the second quarter of 2015. The acquisitions, including the previously-acquired Frisco Marketplace portion, encompass approximately 846,000 square feet of commercial retail space in five states for a total purchase price of $174.9 million.
The properties that were purchased in the second quarter include:
1) Treasure Valley Crossing, Nampa, Idaho
2) Yorkville Marketplace, Yorkville, Illinois
3) White City Shopping Center, Shrewsbury, Massachusetts
4) Shoppes at Market Pointe, Papillion, Nebraska
5) Frisco Marketplace – Dickey’s BBQ, Frisco, Texas
“During the second quarter, we were pleased to expand our Company’s reach to three new states with the addition of these high quality, necessity-based retail centers located in markets with solid demographics,” said Mitchell Sabshon, chief executive officer of Inland Income Trust. “We continue to seek attractive acquisition opportunities and financing terms to expand the Company’s portfolio and tenant mix.”
As of June 30, 2015, Inland Income Trust’s total portfolio consisted of 46 retail properties, substantially all of which are necessity-based, totaling approximately 4.5 million square feet and located in 19 states, with an average economic occupancy of 96.2 percent and an aggregate purchase price of more than $829.5 million. For more information on Inland Income Trust, visit: http://www.inlandincometrust.com.
About Inland Real Estate Income Trust, Inc.
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 necessity-based retail assets. Inland Real Estate Income Trust, Inc. is sponsored by Inland Real Estate Investment Corporation. For more information, please visit www.inland-investments.com.