{"id":1004050300,"date":"2012-10-28T21:08:52","date_gmt":"2012-10-29T05:08:52","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=76570"},"modified":"2020-04-07T05:50:26","modified_gmt":"2020-04-07T13:50:26","slug":"excel-trust-pays-161m-for-retail-and-m-f-space-at-west-broad-village","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/excel-trust-pays-161m-for-retail-and-m-f-space-at-west-broad-village\/","title":{"rendered":"Excel Trust Pays $161M for Retail and M-F space at West Broad Village"},"content":{"rendered":"<p style=\"text-align: justify\">By Adrian Maties, Associate Editor<\/p>\n<p>In a $161 million deal, San Diego-based Excel Trust Inc. has acquired West Broad Village in Richmond. Excel also acquired five retail centers in Orlando from Unicorp National Development for a total investment of $263 million, Virginia Business reports<\/p>\n<p style=\"text-align: justify\">Excel bought approximately<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/rich.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-76572\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/rich.jpg\" alt=\"\" width=\"300\" height=\"172\" \/><\/a> 386,000 square feet of retail and commercial space at the\u00a0 mixed-use development on West Broad St., which Unicorp developed in 2008.<\/p>\n<p style=\"text-align: justify\">In addition, Excel purchased the Flats at West Broad Village, a 339-unit apartment complex.\u00a0\u00a0Not included in the sale were several other assets , including town houses, an Aloft hotel\u00a0or the ACAC Fitness &amp; Wellness Center that is now under construction.<\/p>\n<p>According to Excel, the retail portion of the property is approximately 80% leased. Major tenants include Whole Foods, HomeGoods, REI, Wells Fargo, First Market Bank, Dave &amp; Busters, Mimi&#8217;s Cafe, Kona Grill and Bonefish Grill. Excel also said the apartments are 98% leased.<\/p>\n<p>The five retail centers in central Florida are all approximately 96% leased and comprise about 319,264 square feet. They include such major tenants as Walgreen\u2019s, CVS, Fifth Third, Regions Bank, Fleming\u2019s, Cantina Laredo, Big Fin Seafood Restaurant, Jos. A Bank, and Ruth\u2019s Chris Steakhouse.<\/p>\n<p>Since its initial public offering two years ago, Excel has acquired assets valued at about $1.1 billion, reported Gary Sabin, the company\u2019s chairman and \u00a0CEO.<\/p>\n<p>It\u2019s been a busy week for the Richmond retail market. In a $68 million deal, The Shops at White Oak Village\u00a0has been acquired by Phoenix-based Cole Real Estate Investments.<\/p>\n<p>&nbsp;<\/p>\n<pre>Photo credits: <a href=\"https:\/\/www.westbroadvillage.com\" target=\"_blank\" rel=\"nofollow\">www.westbroadvillage.com<\/a>.<\/pre>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a $161 million deal, San Diego-based Excel Trust Inc. has acquired West Broad Village in Richmond. Excel also acquired five retail centers in Orlando from Unicorp National Development for a total investment of $263 million, Virginia Business reports<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36153],"tags":[],"class_list":["post-1004050300","post","type-post","status-publish","format-standard","hentry","category-richmond-hampton-roads"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Excel Trust Pays $161M for Retail and M-F space at West Broad Village - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/excel-trust-pays-161m-for-retail-and-m-f-space-at-west-broad-village\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Excel Trust Pays $161M for Retail and M-F space at West Broad Village\" \/>\n<meta property=\"og:description\" content=\"In a $161 million deal, San Diego-based Excel Trust Inc. has acquired West Broad Village in Richmond. 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