May 6, 2016
Inland Real Estate Income Trust, Inc. Acquires the Grocery-Anchored Coastal North Town Center in North Myrtle Beach, South Carolina
April 28, 2016 03:00 PM Eastern Daylight Time OAK BROOK, Ill.–(BUSINESS WIRE)–Inland Real Estate Income Trust, Inc. (“Inland Income Trust”) announced today the acquisition of the 311,313-square-foot Coastal North Town …

Read more

OAK BROOK, Ill.–(BUSINESS WIRE)–Inland Real Estate Income Trust, Inc. (“Inland Income Trust”) announced today the acquisition of the 311,313-square-foot Coastal North Town Center in North Myrtle Beach, South Carolina, located approximately 123 miles north of Charleston. Mark Cosenza, senior vice president of Inland Real Estate Acquisitions, Inc., facilitated the purchase of the property on behalf of Inland Income Trust.

“We’re thrilled to add the newly constructed Coastal North Town Center to Inland Income Trust’s growing portfolio. Anchored by a 49,098-square-foot Publix, this center aligns with our strategy to acquire high quality grocery-anchored retail assets,” said Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation. “This well-located shopping center provides access to a host of restaurants, clothing retailers and necessity-based services to the 16 million consumers that visit Myrtle Beach each year.”

Constructed in 2014, Coastal North Town Center is located at Highway 17 and 11th Avenue. The shopping center is well-situated in a high-traffic retail row that draws approximately 33,880 consumers within a five-mile radius.

Coastal North Town Center was 93.47 percent leased, as of the acquisition date. In addition to Publix, tenants include Hobby Lobby, Dick’s Sporting Goods, Ulta Beauty, PetSmart, T.J. Maxx, Ross Dress for Less, Rack Room Shoes, Mattress Firm and a variety of restaurants.

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.

Contacts

Inland Marketing & Communications, Inc.
Sally Blake, (630) 586-6639
sally.blake@inlandgroup.com

Article Located Here

Recent

Continuous Offering NTR NAV and Return Data

Continuous Offering NTR NAV and Return Data

Blue Vault was built on the belief that transparency, education and access are the essential ingredients for wealth advisors to bring alts to the forefront of their practices.

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now