ROIC Acquires Two West Coast Retail Centers for $97M
San Diego-based Retail Opportunity Investment Corporation (ROIC) acquired Fullerton Crossroads in Fullerton, CA and Riverstone Marketplace in Vancouver, WA from the Uhlmann Family Trust. ROIC paid $96.5 million for the pair of retail centers in a stock transaction.
JLL’s Geoff Tranchina represented the seller. The buyer was self-represented. Tranchina says, “These unique tax deferred structures, while complex to execute, provide long-term holders of real estate the potential to diversify their risk, eliminate management responsibilities, and provide liquidity flexibility in the future.”
Fullerton Crossroads is a 221,636-square-foot grocery-anchored community center located at 3200–3362 East Yorba Linda Blvd. Built in 1971 and renovated in 1996 and 2005, the center is 98% leased.
The 99%-leased Riverstone Marketplace is a 108,323-square-foot grocery-anchored shopping center located at 19215 and 19221 SE 34th St. and 3415, 3425 and 3505 SE 192nd Ave. in the Fisher’s Landing area.
* Pictured Riverstone Marketplace
For comments, questions or concerns, please contact Dennis Kaiser