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Inland buys Home Depot-anchored center near Boston

 

Inland Real Estate Income Trustbought the 199,335-square-foot Pentucket Shopping Center in Plaistow, New Hampshire, located approximately one mile north of the Massachusetts state border and approximately 40 miles north of Boston.

 

Mark Cosenza, senior vice president of Inland Real Estate Acquisitions, Inc., facilitated the purchase of the property on behalf of Inland Income Trust.

 

Originally constructed in 1986 and remodeled in 2004, Pentucket Shopping Center is located at 58 Plaistow Road.

 

“Pentucket Shopping Center is a terrific addition to Inland Income Trust’s retail portfolio because of its exceptional location and variety of high quality, necessity-based retail offerings, including a Walmart Supercenter shadow anchor,” said Mitchell Sabshon, president and chief executive officer of Inland Real Estate Investment Corporation. “Serving as the area’s primary retail destination and ideally positioned in New Hampshire near the border of Massachusetts, Pentucket Shopping Center draws approximately 584,000 consumers within a 15-mile radius and provides the benefit of no sales tax in New Hampshire.”

 

Pentucket Shopping Center was 98 percent leased as of the acquisition date. Tenants at the center include The Home Depot, Staples, Bed Bath & Beyond, Hallmark, Sally Beauty Supply, Sport Clips and Santander Bank.

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