WALNUT CREEK, CA—Tom Engberg, CEO of Loja Real Estate, says the firm has acquired two recently developed single-tenant Trader Joe’s properties for approximately $15.6 million.
Located in Libertyville, IL, and Tampa, FL, both properties are well-positioned in established thriving communities. These acquisitions represent the sixth and seventh Trader Joe’s properties in the Loja Real Estate portfolio.
Trader Joe’s Libertyville, opened for business in February, and is the first Trader Joe’s in this affluent Chicago suburb, serving a trade area with over 120,000 people within a five-mile radius. Acquired in March, this is a 12,529 square foot store on 1.83 acres of land.
Trader Joe’s Tampa, opened for business on March 21, and is the first Trader Joe’s in the Tampa Bay area, serving a robust community with over 196,000 people within a five-mile radius. Acquired on April 4, this is a 12,318 square foot store on 0.99 acres of land.
“We couldn’t be more pleased to add these newly-developed Trader Joe’s into our ever-growing singletenant grocer portfolio. Trader Joe’s Libertyville serves an affluent greater Chicago community at a wellpositioned location while Trader Joe’s Tampa exemplifies Trader Joe’s growing footprint in Florida in dense infill trade areas. Both store openings were extremely well received in their local communities,” stated Scott Kyman, VP of acquisitions.
In addition to its single tenant grocer initiative Loja is pursuing grocery-anchored centers and value-add opportunities throughout the United States. Loja currently has in excess of $100 million of additional properties under contract or in its active pipeline.