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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

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Connect With Retail Opportunity Investment CorporationConnect With JLL's Tranchina

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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  • ◦Sale/Acquisition