Inland Real Estate acquires Plaza at Prairie Ridge in Pleasant Prairie

Freeman Staff

June 9, 2015

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 400 tenants.”

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.