{"id":1004159083,"date":"2016-11-15T04:19:26","date_gmt":"2016-11-15T12:19:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004159083"},"modified":"2020-04-30T10:37:54","modified_gmt":"2020-04-30T18:37:54","slug":"grocery-anchored-portfolio-trades-for-218m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/grocery-anchored-portfolio-trades-for-218m\/","title":{"rendered":"Grocery-Anchored Portfolio Trades for $218M"},"content":{"rendered":"

By Scott Baltic, Contributing Editor<\/em><\/p>\n

\"Office<\/a>

Office Depot University Village in Seattle, a Loja Real Estate property<\/p><\/div>\n

Walnut Creek, Calif.\u2014<\/strong>Loja Real Estate<\/a>\u00a0has sold 11 retail properties in markets across the United States to New York-based Clarion Partners<\/a>, which purchased the portfolio on behalf of a commingled fund and a separate account managed by the firm. The $218 million transaction was announced late last week by Loja.<\/p>\n

The properties were single-tenant, net-leased grocery stores in Chicago, Florida, Minnesota and California, and a multi-tenant, grocery-anchored shopping center in Denver. Loja reportedly plans to continue retail property acquisition in markets across the country.<\/p>\n

The sale fits with Loja\u2019s long-term portfolio strategy, Katherine Burr, executive chairwoman of Loja Real Estate, said in a prepared statement. \u201cLoja looks to seize opportunity when it presents itself, on both the buy side and the sell side. With uncertainties around the election and given commercial property valuations, we felt it was a good time to move some properties.\u201d<\/p>\n

Neither Loja nor Clarion responded to Commercial Property Executive<\/a><\/em>\u2019s requests for additional information.<\/p>\n

\u201cThe economic impact of the election hasn\u2019t hit yet. The global stock market went from despair the night of the election to wishful thinking since,\u201d Garrick Brown, vice president of retail research, the Americas,\u2028\u2028 for \u2028Cushman & Wakefield\/DTZ, told CPE<\/em>. \u201cWe don\u2019t know what the impact of Trump\u2019s policies or leadership will be yet. Right now, the U.S. markets are being optimistic.\u201d<\/p>\n

\u201cNet-lease retail is pretty strong right now, and grocery can be a safe bet depending on your tenant,\u201d he continued. “If these are strong properties with long-term leases in place to steady players, Brown concluded, that probably means Loja got \u201ctop pricing.\u201d<\/p>\n

Walnut Creek, Calif.-based Loja Real Estate is a private equity real estate investment firm with $350 million in assets under management.<\/p>\n","protected":false},"excerpt":{"rendered":"

Clarion Partners bought the 11 properties from California-based Loja Real Estate.<\/p>\n","protected":false},"author":882,"featured_media":1004159084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,23891,21742,21749],"tags":[],"class_list":["post-1004159083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-national","category-latest","category-retail"],"acf":[],"yoast_head":"\nGrocery-Anchored Portfolio Trades for $218M - 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\/grocery-anchored-portfolio-trades-for-218m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grocery-Anchored Portfolio Trades for $218M\" \/>\n<meta property=\"og:description\" content=\"Clarion Partners bought the 11 properties from California-based Loja Real Estate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/grocery-anchored-portfolio-trades-for-218m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-11-15T12:19:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-30T18:37:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Office-Depot-University-Village-in-Seattle-a-Loja-Real-Estate-property.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1016\" \/>\n\t<meta property=\"og:image:height\" content=\"751\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/grocery-anchored-portfolio-trades-for-218m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/grocery-anchored-portfolio-trades-for-218m\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"Grocery-Anchored Portfolio Trades for $218M\",\"datePublished\":\"2016-11-15T12:19:26+00:00\",\"dateModified\":\"2020-04-30T18:37:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/grocery-anchored-portfolio-trades-for-218m\\\/\"},\"wordCount\":316,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/grocery-anchored-portfolio-trades-for-218m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/11\\\/Office-Depot-University-Village-in-Seattle-a-Loja-Real-Estate-property.jpg\",\"articleSection\":[\"Deals\",\"Featured\",\"Investment\",\"National\",\"News\",\"Retail\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/grocery-anchored-portfolio-trades-for-218m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/grocery-anchored-portfolio-trades-for-218m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/grocery-anchored-portfolio-trades-for-218m\\\/\",\"name\":\"Grocery-Anchored Portfolio Trades for $218M - 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