Excel Trust Acquires Three Shopping Centers in Utah from DDR for $223 Million

Salt Lake City – The three properties total approximately 1.8 million square feet.

As part of the $223 million sale of three shopping centers in the Salt Lake City area, Excel Trust has sold The Family Center at Taylorsville to Dallas-based TriGate Capital.Salt Lake City – Excel Trust Inc. has purchased three shopping centers in the Salt Lake City area from DDR Corp. for approximately $223 million. The three properties total approximately 1.8 million square feet. The properties included in the transaction are The Family Center at Fort Union; The Family Center at Orem; and The Family Center at Taylorsville. The Family Center at Fort Union is a 682,279-square-foot community shopping center, anchored by Walmart, Smith’s Food & Drug, Bed Bath & Beyond, Babies ‘R’ Us, Ross Dress for Less, OfficeMax, Michaels, DSW and Petco. The Family Center at Taylorsville is a 779,439-square-foot portion of an 857,866-square-foot community shopping center, anchored by Shopko, Harmon’s, FYE Superstore, Bed Bath & Beyond, Ross Dress for Less, PetSmart, Guitar Center and Dollar Tree. The property was 75 percent occupied at closing. The Family Center at Orem is a 150,667-square-foot portion of a 281,931-square-foot community shopping center, anchored by Dick’s Sporting Goods, Toys ‘R’ Us, Babies ‘R’ Us, Jo-Ann Fabrics and Dollar Tree. As a part of the transaction, Excel Trust has sold The Family Center at Taylorsville to Dallas-based TriGate Capital. Lucescu Realty represented Excel in both sale transactions and dealt directly with DDR and TriGate Capital.

   John Nelson

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