The retail properties acquired range in size from 27,000 sf to 163,500 sf. Three are located in California, two are in Florida and one is in Georgia. Drew Alexander, Weingarten's chairman and CEO, calls California and Florida the company's two strongest markets.
All of the retail assets are grocery anchored with the exception of the Shoppes of Parkland (FL), which counts BJ's Wholesale as its main tenant. The supermarket anchors at the other centers are Kroger, Publix, Raley's and Ralph's.
Of the properties it sold during the quarter, seven were retail and two were business parks. The disposed assets are in Arkansas, Kansas, Missouri and Texas.
Weingarten's 360 assets include 295 neighborhood centers, and the remainder are industrial properties. Alexander has said that Weingarten plans to acquire between $200 million and $250 million in assets this year, as well as $300 million through joint ventures. The company also currently has a $250-million development pipeline and is poised to sell about $300 million in non-core assets.
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