Company: INRE
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000950170-25-033568
Chunk: 240

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 2
Chunk 240
---
 
    Percent of TotalAnnualized Base Rent

    Grocery

    59
    %

    Grocery Shadow-Anchored

    28
    %

    Community Center

    7
    %

    Power Center

    6
    %

    Total

    100
    %

34

The following table sets forth a summary, as of December 31, 2024, of the percent of total annualized base rent and the weighted average lease expiration by size of tenant:

    Size of Tenant
     
    Description - Square Footage
     
    Percent of Total Annualized Base Rent

    Weighted Average Lease Expiration – Years

    Anchor
     
    10,000 and over

    48
    %

    5.6

    Junior Box
     
    5,000-9,999

    14
    %

    4.0

    Small Shop
     
    Less than 5,000

    38
    %

    3.5

    Total

    100
    %

    4.6

With respect to our locations affected by the Bed Bath and Beyond bankruptcy, all four locations have been re-leased.

With respect to our locations affected by the Rite Aid bankruptcy, one of our two locations closed and that lease was rejected. We executed a new lease in November 2024 for this location. Our other location is still open and operating and was not included on the closing list. This lease was assumed at the end of August 2024 and Rite Aid exited bankruptcy in early September 2024.

Party City, which leases space at four of our properties, filed for bankruptcy protection. We expect that the leases for two of the properties may be acquired by new tenants through the bankruptcy process, subject to further pleadings in the bankruptcy case. The stores for the remaining two locations are currently operating and we expect these stores to close on or before March 31, 2025.

With respect to our location affected by the Container Store bankruptcy, the location is operating and that lease was assumed on January 28, 2025. Container Store exited bankruptcy in late January 2025.

With respect to our location affected by the American Freight bankruptcy, the location closed and that lease was rejected in December 2024. We are marketing the space.

Lease Expirations

The following table sets forth a summary, as of December 31, 2024, of lease expirations