IRVINE, Calif., (November 4, 2009) - Thompson National Properties, LLC, announced today that it has placed non-refundable deposits on necessity retail centers located in Southern California and Hawaii.
Steve Corea, Thompson National Properties' Senior VP of Acquisitions said, "We have reviewed a large number of deals before deciding on these two retail centers. Our research has shown us that necessity retailers (grocery stores, drug stores, and/or general merchandisers) are among retail's best categories with strong sales increases. We are also targeting western US markets for our retail acquisitions due to this region's projected population growth over the next 10-20 years."
"Our Hawaii acquisition is a fee simple 170,275 square foot necessity retail center comprised of 11 buildings anchored by Long's Drug Store and features nationally recognized retailers such as: Starbucks, Pizza Hut, Subway, RadioShack, Payless Shoes, Jamba Juice, Goodyear and Fantastic Sams," stated Mr. Corea.
Mr. Corea also confirmed that, "TNP has placed a non-refundable deposit on a southern California necessity retail center anchored by major grocery/drug store chain Stater Bros. This 94,574 square foot center also features prominent fast food chains Subway and Jack In The Box and Wells Fargo Bank. The property contains 6 buildings and 2 vacant pad sites that can be developed in the future."
Thompson National Properties, LLC provides real estate investment opportunities and asset management to high net worth domestic, foreign, individual and institutional investors. As of November 3, 2009, Thompson National Properties has 87 commercial properties totaling approximately 13.3 million square feet under management. For more information regarding Thompson National Properties, please visit www.tnpre.com.
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