OAK BROOK, ILL. — Inland Real
Estate Income Trust, Inc. announced Tuesday that it acquired 11
multi-tenant retail centers during the first quarter, including
Plaza at Prairie Ridge in Pleasant Prairie.
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. Other properties were in Alabama, Arkansas, Missouri,
Nebraska and Texas.
“We continue to execute on
Inland Income Trust’s strategy of acquiring high quality
multi-tenant, necessity-based retail centers across the
country,” said JoAnn McGuinness, president and chief operating
officer of Inland Income Trust, in a statement. “At the end of
the first quarter, the company’s properties included more than
As of March 31, 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.