Seeking Alpha

Retail Opportunity closes Fallbrook purchase

  • The shopping center in West Hills, CA totals about 1.12M square feet of gross leasable area and is currently 98% leased, led by the likes of Trader Joe's Sprouts, Wal-Mart, Home Depot, Target, and Kohl's.
  • The purchase price is $210M in cash.
  • ROIC CEO Stuart Tanz: "Given our market knowledge and relationship with the seller, we successfully sourced, underwrote and closed this off-market transaction in less than 30 days ... We have now acquired $322.1 million of grocery-anchored shopping centers year-to-date
  • Source: Press Release
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