Inland Real Estate Income Trust, Inc. Purchases The Village at Burlington Creek in Kansas City, Missouri
Nicole Spreck
Inland CommunicationsNovember 03, 2015
Oak Brook, Ill. – Inland Real Estate Income Trust, Inc. (“Inland Income Trust”) announced today the acquisition of The Village at Burlington Creek shopping center in Kansas City, Missouri. Mark Cosenza, vice president of Inland Real Estate Acquisitions, Inc., facilitated the purchase of the property on behalf of Inland Income Trust.
“We are pleased to add this dynamic multi-tenant shopping center to Inland Income Trust’s growing retail portfolio,” said Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation. “With a host of retail, restaurant and service tenants serving the community, including a neighboring multifamily complex, The Village at Burlington Creek aligns with Inland Income Trust’s strategy to acquire high quality multi-tenant retail assets.”
The 158,046-square-foot retail center is located at 6300 North Revere Drive in the Northland area of Kansas City. Built between 2007 and 2012, The Village at Burlington Creek draws more than 107,000 residents living within a five-mile radius and is anchored by a newly constructed 28,009-square-foot Sprouts Farmers Market.
The Village at Burlington Creek is 98.5 percent leased, as of the acquisition date, with more than 45 tenants, including Impact Fitness, SPIN! Pizza, Bonefish Grill, Northland Dermatology, Bank of Oklahoma and KC Dry Cleaning.
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.
“We are pleased to add this dynamic multi-tenant shopping center to Inland Income Trust’s growing retail portfolio,” said Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation. “With a host of retail, restaurant and service tenants serving the community, including a neighboring multifamily complex, The Village at Burlington Creek aligns with Inland Income Trust’s strategy to acquire high quality multi-tenant retail assets.”
The 158,046-square-foot retail center is located at 6300 North Revere Drive in the Northland area of Kansas City. Built between 2007 and 2012, The Village at Burlington Creek draws more than 107,000 residents living within a five-mile radius and is anchored by a newly constructed 28,009-square-foot Sprouts Farmers Market.
The Village at Burlington Creek is 98.5 percent leased, as of the acquisition date, with more than 45 tenants, including Impact Fitness, SPIN! Pizza, Bonefish Grill, Northland Dermatology, Bank of Oklahoma and KC Dry Cleaning.
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.