MOUNTAINVIEW, CA—Maryland-based Federal Realty Investment Trust has purchased a controlling interest in the San Antonio Shopping Center here, based on a total value of $62.2 million.

The deal was brokered by SRS Real Estate Partners, San Jose office.

Located at the well-trafficked intersection of W. El Camino Real and San Antonio Road, the 376,000-square-foot Walmart-anchored shopping center serves the prosperous Silicon Valley communities of Palo Alto, Mountain View, and Los Altos. In addition to Walmart, the shopping center is home to over 30 regional, national and local retailers, including Trader Joes, Kohl's, 24 Hour Fitness, and JoAnn Fabrics.

Randol Mackley and Bruce Frazer of the SRS San Jose office represented the buyer, Federal Realty Investment Trust, in the transaction, which closed Jan. 8, 2015. The seller was a private family trust.

The SRS San Jose office also announced that children's clothing retailer Carter's planned to open a 9,505-square-foot store in the Westgate Center, San Jose, in late January. Carter's is adjacent to Target at the 645,000-square-foot community shopping center, located at the northeast corner of Hamilton and Saratoga in San Jose. Westgate Center features over 50 shops and restaurants and is anchored by Target, Nordstrom Rack, Walmart Neighborhood Market, Nike Factory Store, Old Navy, Burlington Coat Factory, Michaels, and Ross.

Dawn Greiner of the SRS Dallas/Ft. Worth office, and Laura Tinetti of the SRS San Francisco office represented Carter's in the transaction. Westgate Center is owned and operated by Federal Realty Investment Trust.