OAK BROOK -- Inland Real Estate Acquisitions purchased a New Hampshire shopping center shadow-anchored by a Super Wal-Mart 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. Terms of the purchase were not disclosed.
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 Wal-Mart," 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.