Berkeley, Calif. — Company targeted west coast properties during the fourth quarter of 2011.
The largest of the centers acquired by Read Investments is the 112,472-square-foot Glenbrook Plaza Shopping Center in Grass Valley, Calif.Berkeley, Calif. — Read Investments acquired four shopping centers in the fourth quarter of 2011 for a total of $30 million. The Berkeley-based company has a strategy of acquiring well-located neighborhood centers in secondary and tertiary markets in West Coast markets. The largest acquisition of the centers is the 112,472-square-foot Glenbrook Plaza Shopping Center (pictured) in Grass Valley, Calif. The 98 percent leased center is anchored by Grocery Outlet, Staples and Rite-Aid. Other purchases include Klamath Falls Grocery Outlet n Klamath Falls, Ore.; Davis Manor Center in Davis, Calif.; and Hollister Goodwill Center in Hollister, Calif. Read also acquired a 6,736-square-foot single story office building in downtown Berkeley, near a mixed-use project the company owns. Read anticipates making further acquisitions in 2012; the company currently owns 1.5 million square feet of commercial space.