Inland Real Estate Income Trust has acquired the 126,288-square-foot MidTowne Shopping Center in Little Rock, Arkansas.
Lou Quilici, senior vice president of IREIT Business Manager & Advisor, assisted Matthew Tice, vice president of Inland Real Estate Acquisitions, in the purchase of the property.
Well positioned at the corner of University Avenue and Markham Street, MidTowne Shopping Center is located within a main retail corridor and across the street from Park Avenue Shopping Center, a property Inland Income Trust purchased in February 2014.
MidTowne Shopping Center complements the necessity-based offerings of the Park Avenue Shopping Center by catering to a variety of local consumers from two nearby university campuses, a major area hospital and downtown Little Rock, which is located just five miles to the west.
MidTowne Shopping Center is 95.6 per cent occupied and leased to 22 tenants, including The Container Store, Pottery Barn, Ulta and Williams-Sonoma.