Excel Trust Acquires $263 Million Shopping Center Portfolio

by Nate Hunter

Richmond, Va., and Orlando, Fla. — The acquisition included five centers in Orlando and one center in Richmond.

West Broad Village is located in Richmond, Va.Richmond, Va., and Orlando, Fla.  — Excel Trust Inc. has acquired six shopping centers, one in Richmond, Va., and the remainder in Orlando, Fla., for a purchase price of approximately $263 million. West Broad Village in Richmond includes 385,897 square feet of retail, in addition to 339 apartment units above the center. The retail portion is approximately 80 percent leased. Tenants include Whole Foods, HomeGoods, REI, Wells Fargo and First Market Bank.

Also included in the acquisition, Excel Trust purchased four centers that are wholly owned and a 50 percent interest in another center, all of which are located throughout Orlando. The five centers total 319,264 square feet and are approximately 96 percent leased. Major tenants include Walgreens, CVS/pharmacy, Fifth Third Bank, Jos. A. Bank and Ruth’s Chris Steak House.

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