|By Marketwired .||
|April 10, 2014 03:59 PM EDT||
WALNUT CREEK, CA -- (Marketwired) -- 04/10/14 -- Tom Engberg, CEO of Loja Real Estate, announced the acquisition of two recently developed single-tenant Trader Joe's properties for approximately $15.6 million. Located in Libertyville, Illinois and Tampa, Florida, both properties are well-positioned in established thriving communities. These acquisitions represent the sixth and seventh Trader Joe's properties in the Loja Real Estate portfolio.
Trader Joe's Libertyville, IL, opened for business on February 21st and is the first Trader Joe's in this affluent Chicago suburb, serving a trade area with over 120,000 people within a five-mile radius. Acquired on March 3rd, 2014, this is a 12,529 sq.ft. store on 1.83 acres of land.
Trader Joe's Tampa, FL, opened for business on March 21st and is the first Trader Joe's in the Tampa Bay area, serving a robust community with over 196,000 people within a five-mile radius. Acquired on April 4th, 2014, this is a 12,318 sq.ft. store on 0.99 acres of land.
"We couldn't be more pleased to add these newly developed Trader Joe's into our ever-growing single-tenant grocer portfolio. Trader Joe's Libertyville serves an affluent greater Chicago community at a well-positioned location while Trader Joe's Tampa exemplifies Trader Joe's growing footprint in Florida in dense infill trade areas. Both store openings were extremely well received in their local communities," stated Scott Kyman, Vice President of Acquisitions.
In addition to its single tenant grocer initiative Loja is pursuing grocery-anchored centers and value-add opportunities throughout the United States. Loja currently has in excess of $100 million of additional properties under contract or in its active pipeline.
Loja Group LLC is a real estate investment management firm with $200 million in assets under management. Through Loja Real Estate, LLC, a wholly-owned subsidiary, Loja acquires and manages commercial real estate assets throughout the United States. Additional information about Loja may be found at www.lojagroup.com.
Vice President, Acquisitions
Office: 925-935-4405, ext. 6
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