Nuveen Real Estate has acquired a 13-property, 1.89-million-square-foot open-air retail portfolio for $445.5 million. The portfolio comprises primarily grocery-anchored community and neighborhood shopping centers located across California, Colorado and Washington.
The portfolio consists of six properties in California, four in Colorado and three in Washington. Collectively, the assets are 93.5 percent leased and feature a diverse tenant roster anchored by grocery retailers, including FoodMaxx, Grocery Outlet, Safeway, Sprouts and Walmart Neighborhood Market. Additional national retailers include Best Buy, Marshalls, Ross, Target and T.J. Maxx.
The portfolio’s geographic diversification across three states provides exposure to some of the strongest retail markets in the western United States, where limited new supply and population growth continue to support retailer demand alongside infill demographics surrounding each asset.
JLL advised Nuveen Real Estate on
