OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Real Estate Income Trust, Inc. (“Inland Income Trust”) announced today the acquisition of a newly constructed retail center in Lawrence, Kansas. Mark Cosenza, vice president of Inland Real Estate Acquisitions, Inc., facilitated the purchase of the property on behalf of Inland Income Trust.
Located at 2727 Iowa Street in Lawrence, the 84,981-square-foot property is located in Lawrence’s main retail corridor, approximately six blocks from the University of Kansas campus.
“We are thrilled to add this dynamic multi-tenant shopping center to our growing retail portfolio,” said JoAnn McGuinness, president and chief operating officer of Inland Income Trust. “With its solid national tenant line-up and an ideal location near a strong university campus, the center fits within our company’s strategy to acquire high quality multi-tenant retail assets.”
The center is 100 percent leased, as of the acquisition date. Tenants include Dick’s Sporting Goods, PetSmart, Ulta Beauty and BootBarn. Dick’s Sporting Goods and PetSmart are currently open and operating, while Ulta Beauty and BootBarn are undergoing construction with an expected opening in the fourth quarter of 2015.
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.