Cohen & Steers Real Estate Opportunities Fund Acquires West Street Shopping Center In Keene, New Hampshire; Terms Not Disclosed
Benzinga Newsdesk 4 hours ago
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The acquisition was made through a joint venture with DLC, a vertically integrated owner and operator of open-air shopping centers.West Street Shopping Center aligns with Cohen & Steers' investment thesis of
The acquisition was made through a joint venture with DLC, a vertically integrated owner and operator of open-air shopping centers.
West Street Shopping Center aligns with Cohen & Steers' investment thesis of acquiring income-generating shopping centers anchored by necessity-based retailers in established markets with limited competitive retail supply. The center is anchored by a top-performing Hannaford grocery store and includes a diverse mix of necessity- and value-oriented retailers including Hobby Lobby, Maurices, UPS, Spectrum, and AAA. West Street Shopping Center is located about 90 miles northwest of Boston in a stable, regional market with a 3-mile median household income of $85,0001. The area serves as the primary commercial hub for southwestern New Hampshire and also draws customers from adjacent states due to a favorable tax environment.