Slate Retail REIT acquires shopping centre in Norfolk, Virginia
Slate Retail REIT is to purchase East Little Creek, a 100 per cent occupied, 69,620 square foot grocery-anchored shopping centre in Norfolk, Virginia for USD9.85 million or USD141 per square foot.
Funded entirely from internal resources, this will be the second acquisition by the REIT since listing.
The property is anchored by Farm Fresh, a local brand of SuperValu, the third-largest food retailer in the US.
The acquisition is expected to be completed in third quarter 2014 and remains subject to customary closing conditions.
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