Inland’s IREIT acquires Texas and Florida centers

Oak Brook, Ill. — Inland Real Estate Income Trust has acquired two shopping centers in Texas, and Florida, in separate transactions: Mansfield Pointe Shopping Center in Mansfield, Texas, and North Hills Square Shopping Center in Coral Springs, Fla.

IREIT acquired the 148,529-sq.-ft. Mansfield Pointe for $28.4 million and the 63,829-sq.-ft. North Hills Square Shopping Center for $11.05 million.

Mansfield Point was 96.7% occupied at closing. The tenant roster includes Sports Authority, PetSmart, Bed Bath & Beyond, Party City and Half Price Books. The property is shadow-anchored by SuperTarget, which includes a grocery component, and The Home Depot, neither of which were acquired.

A Wal-Mart Neighborhood Market anchors North Hills, which was 98% occupied at closing. The property consists of two single-tenant buildings and one multi-tenant building. Additional tenants include Wendy’s and Manhattan Bagel.

 

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