SAN DIEGO February 4, 2013 -- Excel Trust, Inc. (NYSE:EXL), a retail focused real estate investment trust (REIT), acquired Tracy Pavilion, a 374,766 square foot shopping center, for approximately $32 million on January 24, 2013. The company owns 162,353 square feet as Home Depot and WinCo are both tenant owned. Major tenants include Home Depot (non-owned), WinCo (non-owned), Marshalls, Ross, PetSmart, Staples and Ulta. In a five mile radius average household income is estimated to be $95,558 (Source: AGS 2013).
Gary Sabin, Chairman and CEO, commented, "This acquisition underscores our strategy of acquiring dominant, top-performing properties surrounded by strong household incomes. Amazon recently announced it is adding a 1 million square foot facility in Tracy, which will bring additional jobs to the community."
About Excel Trust
Excel Trust, Inc. is a retail focused REIT that primarily targets community and power centers, grocery anchored neighborhood centers and freestanding retail properties. The Company has elected to be treated as a REIT, for U.S. federal income tax purposes. Excel Trust trades publicly on the NYSE under the symbol "EXL". For more information on Excel Trust, Inc., please visit www.exceltrust.com.
Forward Looking Statements
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Source: Excel Trust, Inc. via Thomson Reuters ONE