LOS ANGELES—San Diego-based Retail OpportunityInvestments Corp. will purchase Fallbrook Shopping Centerfor $210 million in cash. The property is located in West Hills, CAand is one of the leading shopping centers serving the West SanFernando Valley, a densely-populated, affluent community within theLos Angeles metropolitan area.

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Fallbrook Shopping Center has approximately 1.12 million squarefeet of gross leaseable area—762,000 square feet of owned GLA. ROICexpects to close the transaction during the second quarter of2014.

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Stuart A. Tanz, president and CEO of RetailOpportunity Investments Corp. notes that "Fallbrook is one of thestrongest shopping centers in the San Fernando Valley and is anexcellent strategic fit with our existing portfolio, given itslocation and market position, as well as its diverse mix oftenants, many of which are necessity-based retailers.”

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In addition to the strategic attributes, he adds, “weexpect that the transaction will be immediately accretive andenhance our long-term, stable cash flow.”

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Going forward, Tanz says, “there are opportunities to increasecash flow and enhance value through implementing a variety ofleasing, repositioning and development initiatives, as well ascapitalizing on economies of scale and operating synergies. We lookforward to integrating Fallbrook into our portfolio, as one of ourflagship properties.”

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Some key tenants at the property include threesupermarkets—Ralph's, Trader Joe's and Sprouts—as well as WalMart,Home Depot, Target, and Kohl's.

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As of March 31, 2014, ROIC owned 56 shopping centersencompassing approximately 6 million square feet. The company didnot provide further details regarding the transaction withGlobeSt.com before deadline but we will update as we learnmore.

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As GlobeSt.com previously reported, the retail REIT had analystsplacing a buy rating on it in the month of May thanks to its'strong leasing and acquisitions pace.' To read more about thatrating and the company's first quarter earnings, click here to read the full article.

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.