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Weingarten Realty Investors In Joint Venture Acquires Urban Seattle Property


Tuesday, 4 Jun 2013 11:40am EDT 

Weingarten Realty Investors announced the acquisition of Queen Anne Marketplace in Seattle, Washington. The shopping center is 70,000 square feet and anchored by Metropolitan Market, an upscale neighborhood grocer operating in a densely populated, high barrier-to-entry urban infill location. The 3 mile trade area enjoys a population of over 200,000 people with over 68% holding college degrees. The property was purchased in a joint venture between Weingarten Realty Investors and Bouwinvest in which WRI will hold a 51% interest. This is the first acquisition in the joint venture that seeks to invest approximately $275 million in high quality community and neighborhood shopping centers anchored by market-dominant retailers utilizing up to 50% leverage. 

Company Quote

32.34
-1.2 -3.58%
12 Sep 2014