Illinois company buys Olive Branch shopping center

OLIVE BRANCH — Inland Real Estate Income Trust Inc. of Oak Brook, Ill., has acquired the 159,258-square-foot Wedgewood Commons Shopping Center in Olive Branch for a purchase price of $33.9 million.

The property consists of four buildings and an existing structure suitable for the development of an additional 10,838 square feet of leasable space, increasing the center’s retail space to over 170,000 square feet.

Wedgewood Commons is 100 percent leased and tenants include TJ Maxx, HomeGoods, Michaels, Rack Room Shoes, AT&T, TCBY, GNC and Sport Clips. The property is shadow-anchored by a Target “P Fresh” store, Target’s new and successful grocery-focused store format, which was not acquired.

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