Excel Trust Acquires Stadium Center Shopping Center for $41.1 Million

Manteca, Calif. — Kitchell Development Co. sold the 421,126-square-foot community center.

Manteca, Calif. — Stadium Center Shopping Center, a 421,126-square-foot community center in Manteca, has sold to Excel Trust for $41.1 million. The center is situated on a 42.3-acre parcel at the northwest quadrant of State Route 120 and Airport Way. Built in 2007, the property is 96.3 percent leased to tenants including Costco, Kohl’s, Ross Dress for Less, OfficeMax, Old Navy and Jo-Ann Fabrics. Costco and Kohl’s, which occupy about 154,000 square feet and 88,800 square feet, respectively, were not part of the sale. The acquisition did include four graded land parcels that are entitled for an additional 17,600 square feet of leasable space. Lucescu Realty represented the seller, Kitchell Development Co., and secured the buyer in the transaction.

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