Cohen & Steers and Acadia Realty Trust Acquire Open-Air Shopping Center in Tampa, FL
Cohen & Steers (NYSE: CNS) and Acadia Realty Trust have formed a joint venture to acquire The Walk at Highwoods, a 141,000 square foot open-air shopping center in Tampa, Florida. The fully occupied center features national retailers including HomeGoods, Michael's, and Dunkin'. Located in a high-growth suburban area, the property benefits from Tampa's strong economic growth, favorable tax environment, and expanding technology and financial sectors. The local market shows impressive metrics with 6.4% retail rent growth over the last 12 months and a low 2.3% vacancy rate. Open-air shopping centers nationally are at 95.7% occupancy, their highest level in 16 years.
Cohen & Steers (NYSE: CNS) e Acadia Realty Trust hanno costituito una joint venture per acquisire The Walk at Highwoods, un centro commerciale all'aperto di 141.000 piedi quadrati a Tampa, Florida. Il centro, completamente occupato, ospita rivenditori nazionali tra cui HomeGoods, Michael's e Dunkin'. Situata in un'area suburbana in forte espansione, la proprietà beneficia della robusta crescita economica di Tampa, di un ambiente fiscale favorevole e dei settori tecnologico e finanziario in espansione. Il mercato locale mostra metriche impressionanti con una crescita dei canoni retail del 6,4% negli ultimi 12 mesi e un basso tasso di vacanza del 2,3%. A livello nazionale, i centri commerciali all'aperto sono occupati al 95,7%, il loro livello più alto in 16 anni.
Cohen & Steers (NYSE: CNS) y Acadia Realty Trust han formado una joint venture para adquirir The Walk at Highwoods, un centro comercial al aire libre de 141.000 pies cuadrados en Tampa, Florida. El centro, completamente ocupado, cuenta con minoristas nacionales como HomeGoods, Michael's y Dunkin'. Ubicado en un área suburbana de alto crecimiento, la propiedad se beneficia del fuerte crecimiento económico de Tampa, un entorno fiscal favorable y la expansión de los sectores tecnológico y financiero. El mercado local muestra métricas impresionantes, con un crecimiento del alquiler minorista del 6.4% en los últimos 12 meses y una baja tasa de vacantes del 2.3%. A nivel nacional, los centros comerciales al aire libre tienen una ocupación del 95.7%, el nivel más alto en 16 años.
Cohen & Steers (NYSE: CNS)와 Acadia Realty Trust는 플로리다 탬파에 있는 141,000 제곱피트 규모의 야외 쇼핑센터인 The Walk at Highwoods를 인수하기 위해 합작 투자 계약을 체결했습니다. 이 센터는 HomeGoods, Michael's, Dunkin'과 같은 국내 소매업체들이 입점해 있으며, 완전 임대 상태입니다. 이 부동산은 고성장 서브어반 지역에 위치하고 있어 탬파의 강력한 경제 성장, 우호적인 세금 환경 및 확장하는 기술 및 금융 부문의 혜택을 누리고 있습니다. 지역 시장은 지난 12개월 동안 소매 임대료가 6.4% 증가하고, 저조한 2.3%의 공실률을 기록하면서 인상적인 지표를 보여줍니다. 미국 전역에서 야외 쇼핑센터의 점유율은 95.7%로, 16년 만에 최고 수준입니다.
Cohen & Steers (NYSE: CNS) et Acadia Realty Trust ont formé une coentreprise pour acquérir The Walk at Highwoods, un centre commercial en plein air de 141 000 pieds carrés à Tampa, en Floride. Le centre, entièrement occupé, propose des détaillants nationaux tels que HomeGoods, Michael's et Dunkin'. Situé dans une zone suburbane en forte croissance, la propriété bénéficie de la forte croissance économique de Tampa, d'un environnement fiscal favorable et de l'expansion des secteurs technologique et financier. Le marché local montre des indicateurs impressionnants avec une croissance des loyers de détail de 6,4 % au cours des 12 derniers mois et un faible taux de vacance de 2,3 %. À l'échelle nationale, les centres commerciaux en plein air affichent un taux d'occupation de 95,7 %, le niveau le plus élevé depuis 16 ans.
Cohen & Steers (NYSE: CNS) und Acadia Realty Trust haben ein Joint Venture gegründet, um The Walk at Highwoods zu erwerben, ein 141.000 Quadratfuß großes Freiluft-Einkaufszentrum in Tampa, Florida. Das vollständig vermietete Zentrum bietet nationale Einzelhändler wie HomeGoods, Michael's und Dunkin'. In einem stark wachsenden Vorort gelegen, profitiert die Immobilie von Tampas starkem Wirtschaftswachstum, einem günstigen Steuerumfeld und wachsenden Technologie- und Finanzsektoren. Der lokale Markt zeigt beeindruckende Kennzahlen mit einem Wachstum der Einzelhandelsmieten von 6,4 % in den letzten 12 Monaten und einer niedrigen Leerstandsquote von 2,3 %. Nationale Freiluft-Einkaufszentren haben eine Belegungsquote von 95,7 %, dem höchsten Stand seit 16 Jahren.
- Property is 100% occupied with established national retailers
- Located in high-growth Tampa market with strong economic indicators
- Local market shows 6.4% retail rent growth in last 12 months
- Area has low retail vacancy rate of 2.3%
- Open-air shopping centers achieved highest occupancy in 16 years at 95.7%
- None.
Insights
This strategic acquisition in Tampa's high-growth market represents a significant opportunity in the resilient open-air retail sector. The 141,000 square foot power center boasts several compelling attributes:
- 100% occupancy with strong national tenant mix
- Prime location in a retail hub with major traffic drivers
- Robust market fundamentals with
6.4% YoY rent growth and low2.3% vacancy rate
The Tampa market's strong economic indicators, including population growth and corporate relocations, support the investment thesis. The property's positioning within the broader 95.7% nationally occupied open-air retail segment suggests strong potential for stable cash flows and value appreciation. The partnership between Cohen & Steers and Acadia Realty Trust combines institutional investment expertise with specialized retail operating capabilities, enhancing the potential for value creation.
The Walk at Highwoods is a 141,000 square foot power center located approximately 20 miles northeast of downtown
James S. Corl, Head of the Private Real Estate Group at Cohen & Steers, said:
"We are pleased to partner with Acadia, whom we have known since their IPO in 1994 and who share a similar view with us that open-air shopping centers are well-positioned entering a new economic cycle given robust demand and limited new retail construction. The Walk at Highwoods should continue to benefit from
Open-air shopping centers are at their highest occupancy level of the past 16 years at
About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in
About Acadia Realty Trust. Acadia Realty Trust is an equity real estate investment trust focused on delivering long-term, profitable growth. Acadia owns and operates a high-quality core real estate portfolio ("Core" or "Core Portfolio") of street and open-air retail properties in the nation's most dynamic retail corridors, along with an investment management platform that targets opportunistic and value-add investments through its institutional co-investment vehicles ("Investment Management"). For further information, please visit www.acadiarealty.com.
Website: https://www.cohenandsteers.com
Symbol: NYSE: CNS
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SOURCE Cohen & Steers, Inc.
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