Inland Acquires Wedgewood Commons Shopping Center for $33.9 Million

by Nate Hunter

Olive Branch, Miss. — The nearly 160,000-square-foot center is 100 percent leased.

Olive Branch, Miss. — Inland Real Estate Income Trust Inc. has purchased the 159,258-square-foot Wedgewood Commons Shopping Center in Olive Branch for $33.9 million. The property includes four buildings and an existing structure that can accommodate the development of an additional 10,838 square feet. The center is fully occupied by tenants including T.J. Maxx, Michaels, Rack Room Shoes, AT&T and GNC. Wedgewood Commons Shopping Center is shadow-anchored by a Target “P Fresh” store, the company’s new grocery-focused format, which was not included in the sale.

David Disney with The Disney Group represented the seller and procured the buyer. Lou Quilici with IREIT Business Manager & Advisor Inc. assisted Matthew Tice, vice president of Inland Real Estate Acquisitions Inc., in the transaction.

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