Loja Acquires Two Single-Tenant Trader Joe's in Separate Transactions
Located in Evanston, IL, and Albuquerque, NM, the Properties Are
Valued at $15 Million
WALNUT CREEK, CA -- (Marketwired) -- 10/08/13 -- Tom Engberg, CEO of
Loja Real Estate, announced the acquisition of two additional
single-tenant Trader Joe's properties for approximately $15 million.
Located in Evanston, Illinois and Albuquerque, New Mexico, both
properties are well-positioned in thriving communities with average
annual household income in excess of $95,000 in a 1-mile radius.
These acquisitions represent the fourth and fifth Trader Joe's in the
Trader Joe's Evanston, IL, acquired on October 2, 2013, is a 13,000
sq.ft. newly developed Trader Joe's which opened for business on
September 6th on 1.12 acres of land, located just 1.2 miles south of
Northwestern University and 12 miles north of Chicago. This is Trader
Joe's first store in the City of Evanston which is supported by a top
tier University and affluent commuter base.
Trader Joe's Albuquerque, NM, acquired on September 17, 2013, is a
14,000 sq.ft. single-tenant Trader Joe's developed in 2006 on 1.725
acres of land. It is part of Ventura Place, a 94,000 sq.ft. shopping
center, co-anchored by Bed, Bath & Beyond. Trader Joe's is
prominently located on Paseo Del Norte NE, a major retail corridor
serving an affluent community in north Albuquerque.
"These recent acquisitions fit our overall strategy of acquiring
single-tenant retail properties supported by best in class retailers
located in highly desirable locations. Trader Joe's Albuquerque is
well positioned in a stable and affluent local trade area. At Trader
Joe's Evanston we are drawn by the economic drivers of being located
in a college community in an irreplaceable location," stated Scott
Kyman, Vice President of Acquisitions.
Trader Joe's is a privately-held grocery store chain, operating 398
stores around the United States with annual sales reportedly in
excess of $8.5 billion.
This represents the third and fourth acquisition for Loja Real Estate
in 2013. The first two acquisitions were a Trader Joe's and Vitamin
Shoppe dual-tenant building in Woodbury, Minnesota and a
single-tenant Office Depot in the U-Village area of Seattle,
Washington. These acquisitions are part of Loja's larger redeployment
strategy after the successful disposition of Downtown Pleasant Hill
shopping center in Pleasant Hill, California, earlier this year.
Loja Group LLC is a real estate investment management firm with $190
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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