Inland Real Estate Income Trust, Inc. Expands Portfolio with Purchase of Grocery-Anchored Shopping Center in Turlock, California
Nicole Spreck
Inland Communications
(630) 218-8000Ext. 4896
[email protected]
November 09, 2015
Oak Brook, Ill. 鈥� Inland Real Estate Income Trust, Inc. (鈥淚nland Income Trust鈥�) announced today the acquisition of the 111,558-square-foot Blossom Valley Plaza shopping center in Turlock, California, located approximately 15 miles southeast of Modesto, California. Matthew Tice, vice president of Inland Real Estate Acquisitions, Inc., facilitated the purchase of the property on behalf of Inland Income Trust.
鈥溊志禾逵鼳PP acquisition of Blossom Valley Plaza was an ideal opportunity to add a stable, necessity-based asset to Inland Income Trust鈥檚 growing retail portfolio,鈥� said Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation. 鈥淲ith its solid tenant line-up and strong demographics, drawing nearly 22,000 vehicles per day, this grocery-anchored center aligns with Inland Income Trust鈥檚 strategy to acquire high quality multi-tenant retail assets.鈥�
Well situated in Turlock鈥檚 main retail corridor, Blossom Valley Plaza is located at 2900 Geer Road and was constructed in 1988. 乐竞体育APP shopping center provides the approximately 89,000 residents living within a five-mile radius and students of the California State University, Stanislaus campus access to a 60,114-square-foot Raley鈥檚 grocery store as well as other necessity-based services.
Blossom Valley Plaza is 100 percent leased, as of the acquisition date, to a roster of national and regional tenants. In addition to the Raley鈥檚 grocery store, tenants include Wells Fargo, Supercuts, Subway, Papa John鈥檚, GameStop and Jay鈥檚 Tires.
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 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.
鈥溊志禾逵鼳PP acquisition of Blossom Valley Plaza was an ideal opportunity to add a stable, necessity-based asset to Inland Income Trust鈥檚 growing retail portfolio,鈥� said Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation. 鈥淲ith its solid tenant line-up and strong demographics, drawing nearly 22,000 vehicles per day, this grocery-anchored center aligns with Inland Income Trust鈥檚 strategy to acquire high quality multi-tenant retail assets.鈥�
Well situated in Turlock鈥檚 main retail corridor, Blossom Valley Plaza is located at 2900 Geer Road and was constructed in 1988. 乐竞体育APP shopping center provides the approximately 89,000 residents living within a five-mile radius and students of the California State University, Stanislaus campus access to a 60,114-square-foot Raley鈥檚 grocery store as well as other necessity-based services.
Blossom Valley Plaza is 100 percent leased, as of the acquisition date, to a roster of national and regional tenants. In addition to the Raley鈥檚 grocery store, tenants include Wells Fargo, Supercuts, Subway, Papa John鈥檚, GameStop and Jay鈥檚 Tires.
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 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.