Retail Opportunity closes Fallbrook purchase

|About: Retail Opportunity Inves... (ROIC)|By:, SA News Editor

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