Kimco Buys $132M Portland Shopping Center
ByKimco Realty Corp. continues to add to its portfolio with the acquisition of Jantzen Beach Center, one of the largest retail centers in the State of Oregon. The REIT purchased the 746,000-square-foot property from Jantzen Dynamic Corp., according to City of Portland records, in a $131.8 million transaction.
As part of its 2020 Vision strategy, Kimco is methodically upgrading the quality of its portfolio through acquisitions funded with recycled capital from select dispositions. “The demand for high-quality assets with significant upside is extremely competitive,” Ross Cooper, president & CIO with Kimco Realty Corp., told Commercial Property Executive. “There is a substantial amount of capital aggressively chasing these rare opportunities. We continue to very selectively evaluate assets and only stretch if the upside, location, and demographics are extraordinarily compelling.”…
