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Weingarten Snags West San Jose Retail Center for $96M
Houston-based Weingarten Realty Investors acquired Steven’s Creek Central, a grocery-anchored community center in San Jose, for a reported $95.7 million. The nearly 200,000-square-foot property was sold by an affiliate of Boston-based AEW Capital Management.
The retail center is anchored by Safeway, Marshalls and Total Wine & More. Stevens Creek Central is near Interstate 280 and the Lawrence Expressway, along Stevens Creek Boulevard. The property is located roughly 1.5 miles from Apple’s 2.8-million-square-foot Apple Park headquarters in Cupertino.
The company’s acquisition activity so far this year totals $209 million, encompassing five grocery-anchored centers in urban, infill locations with strong demographics.
Weingarten’s Drew Alexander says, “We are extremely pleased with execution of our strategy to upgrade the quality of our portfolio, as evidenced by the transactions we have closed. As we move into 2020, we are optimistic that we are well positioned for FFO growth.”
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- ◦Sale/Acquisition
