Federal Realty Investment Trust has acquired Del Monte Shopping Center, a 675,088-square-foot retail property in Monterey, Calif., for $123.535 million.
JLL worked on behalf of the seller, American Assets Trust.
Del Monte Shopping Center, located at 1410 Del Monte Center, sits at the gateway to the Monterey Peninsula along Pacific Coast Highway, offering visibility and accessibility.
Del Monte Shopping Center, spanning 47.04 acres, underwent a renovation in 2015. Currently 83.2 percent occupied, has a diverse mix of high-profile tenants including Whole Foods, Apple, Macy’s, Sephora, Lululemon, Pottery Barn, Anthropologie and Century Theatres.
