PRESS ROOMNEWS RELEASE
Inland Real Estate Acquisitions, Inc. Purchases Another Shopping CenterApril 18, 2017
Oak Brook, Ill. – Inland Real Estate Acquisitions, Inc. announced today that it negotiated and helped close the purchase of another shopping center shadow-anchored by a Super Walmart with a grocery component. The Pentucket Shopping Center is a 199,335-square-foot retail center located in Plaistow, New Hampshire, approximately one mile north of the Massachusetts state border and approximately 40 miles north of Boston. Mark Cosenza, senior vice president of Inland Real Estate Acquisitions, Inc., facilitated the transaction on behalf of Inland Real Estate Income Trust, Inc.
Originally constructed in 1986 and remodeled in 2004, Pentucket Shopping Center is located at 58 Plaistow Road. The shopping center is located near the border of Massachusetts and New Hampshire, and provides consumers with the benefit of no sales tax in Plaistow.
“Pentucket Shopping Center is well-situated near the border of New Hampshire and Massachusetts, positioning it as the area’s primary retail destination and providing more than 584,000 people within a 15-mile radius with convenient access to a variety of home improvement, beauty, home goods and bank retailers and an adjacent Super Walmart,” said Cosenza. “This recently renovated shopping center has well-established tenants and is ideally located within its respective region, making it a prime example of the type of retail acquisitions we continue to seek out.”
This acquisition marks the 75th retail property purchase Inland Real Estate Acquisitions has accomplished over the last 26 months, totaling more than $1.6 billion in retail purchases.
To date, Inland Real Estate Acquisitions, Inc. has facilitated more than $44 billion of purchases including apartments, single-tenant properties, medical office buildings and retail properties.
About Inland Real Estate Acquisitions, Inc.
Inland Real Estate Acquisitions, Inc. is the purchasing arm for various entities that are a part of The Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). For additional information, please refer to Inland’s website at www.inlandgroup.com.