Inland Real Estate Income Trust, Inc. Purchases Marketplace at El Paseo in Fresno, California
Alyssa Campbell
Inland Communications
(630) 218-8000Ext. 2887
[email protected]
October 28, 2015
Oak Brook, Ill. 鈥� Inland Real Estate Income Trust, Inc. (鈥淚nland Income Trust鈥�) announced today the acquisition of the 224,683-square-foot Marketplace at El Paseo in Fresno, California. Matthew Tice, vice president of Inland Real Estate Acquisitions, Inc., facilitated the purchase of the property on behalf of Inland Income Trust.
鈥淲e are pleased to expand the reach of Inland Income Trust鈥檚 portfolio and the company鈥檚 geographic footprint to California with the purchase of Marketplace at El Paseo,鈥� said Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation. 鈥淭his acquisition was an ideal match for Inland Income Trust鈥檚 strategy to acquire high quality multi-tenant retail assets.鈥�
Marketplace at El Paseo is located at 6549 North Riverside Drive, at the southeast quadrant of the 99 Freeway and Herndon Avenue in Fresno, and was constructed in 2014. 乐竞体育APP center is well-situated in a high-traffic residential and retail corridor, drawing more than 122,000 consumers within a five-mile radius.
Marketplace at El Paseo is 96 percent leased, as of the acquisition date, to a roster of national tenants, including Burlington Coat Factory, Marshalls, Ross Dress for Less, Old Navy, Petco, Ulta Beauty and Famous Footwear. 乐竞体育APP property is shadow-anchored by Target, which was not acquired.
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.
鈥淲e are pleased to expand the reach of Inland Income Trust鈥檚 portfolio and the company鈥檚 geographic footprint to California with the purchase of Marketplace at El Paseo,鈥� said Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation. 鈥淭his acquisition was an ideal match for Inland Income Trust鈥檚 strategy to acquire high quality multi-tenant retail assets.鈥�
Marketplace at El Paseo is located at 6549 North Riverside Drive, at the southeast quadrant of the 99 Freeway and Herndon Avenue in Fresno, and was constructed in 2014. 乐竞体育APP center is well-situated in a high-traffic residential and retail corridor, drawing more than 122,000 consumers within a five-mile radius.
Marketplace at El Paseo is 96 percent leased, as of the acquisition date, to a roster of national tenants, including Burlington Coat Factory, Marshalls, Ross Dress for Less, Old Navy, Petco, Ulta Beauty and Famous Footwear. 乐竞体育APP property is shadow-anchored by Target, which was not acquired.
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.