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Inland Acquires Grocery-anchored Marketplace at Tech Center

January 13, 2016

| BY MELONIE MESSINA |Chain Store Age

Newport News, Va. — Inland Real Estate Income Trust announced the acquisition of the approximately 210,000-sq. ft. Marketplace at Tech Center, a newly constructed grocery-anchored power center, in Newport News, Virginia. Mark Cosenza, VP of Inland Real Estate Acquisitions facilitated the purchase of the property on behalf of Inland Income Trust.

“Marketplace at Tech Center is a terrific addition to Inland Income Trust’s retail portfolio because of its exceptional variety of high-caliber grocery, restaurant, clothing and retail offerings,” said Mitchell Sabshon, president and CEO of Inland Real Estate Investment Corporation. “With its diverse tenant mix, strong demographics and ideal location near major employers, including the Thomas Jefferson National Accelerator Facility, Marketplace at Tech Center is a dominant retail property in the market and is well positioned for future growth.”

Marketplace at Tech Center feature retailers include Whole Foods, Steinmart, DSW, Ulta Beauty, Five Below, BJ’s Brewhouse, Mattress Firm, AT&T and Massage Envy.

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Blue Vault Nontraded REIT and Nontraded BDC Reviews
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