Oak Brook, Ill. — Inland Real Estate Income Trust announced the acquisition of the 86,800-sq-ft. Pick ‘n Save Shopping Center in West Bend, Wisconsin. Lou Quilici, senior VP of IREIT Business Manager & Advisor, Inc., assisted Matthew Tice, VP of Inland Real Estate Acquisitions in the purchase of the property.
Well situated at the intersection of South Main Street and Paradise Drive, Pick ‘n Save Shopping Center is located within a highly trafficked retail corridor and across the street from Paradise Mall Shopping Center. Newly constructed in 2011, the property provides the approximately 45,000 residents living within a five-mile radius of the center access to a 69,886-sq.-ft. Pick ‘n Save grocery store as well as other necessity-based services.
Pick ‘n Save Shopping Center is 92.9% leased to five tenants. In addition to the Pick ‘n Save grocery store, tenants include PNC Bank, Aspen Dental, Sport Clips and Cherry Berry.