Inland REIT Buys Missouri Shopping Center

Inland Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust, acquired The Village at Burlington Creek shopping center in Kansas City, Missouri from Northpoint Developers for an undisclosed price.

“We are pleased to add this dynamic multi-tenant shopping center to Inland Income Trust’s growing retail portfolio,” said Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation. “With a host of retail, restaurant and service tenants serving the community, including a neighboring multifamily complex, The Village at Burlington Creek aligns with Inland Income Trust’s strategy to acquire high quality multi-tenant retail assets.”

The 158,046-square-foot retail center is located at 6300 North Revere Drive in the Northland area of Kansas City. Built between 2007 and 2012, The Village at Burlington Creek draws more than 107,000 residents living within a five-mile radius and is anchored by a newly constructed 28,009-square-foot Sprouts Farmers Market.

The property is 98.5 percent leased, as of the acquisition date, with more than 45 tenants, including Impact Fitness, SPIN! Pizza, Bonefish Grill, Northland Dermatology, Bank of Oklahoma and KC Dry Cleaning.

Inland Real Estate Income Trust Inc. was formed to acquire, directly or indirectly, a portfolio of commercial real estate located throughout the United States. The company is focused on acquiring primarily core multi-tenant retail assets and is sponsored by Inland Real Estate Investment Corporation.