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Firm Buys Four Grocery-Anchored Centers

SAN DIEGO — Retail Opportunity Investments Corp. here said Friday that it has acquired three grocery-anchored shopping centers in Southern California and has an agreement to acquire a fourth.

The four properties, acquired for $114 million, comprise 444,000 square feet. They were previously owned by a local family.

The acquired centers include:

• Cypress West, Cypress, Calif., measuring 106,000 square feet and anchored by a Kroger and a Rite Aid, for $27.6 million.

• Redondo Beach Plaza, measuring 111,000 square feet and anchored by a Vons, for $30.8 million.

Read more: Wal-Mart Opens 1st Calif. Neighborhood Market

• Harbor Place Center, Garden Grove, Calif., measuring 120,000 square feet and anchored by a shuttered Albertsons and a Ross Dress for Less, for $27.7 million.

• Diamond Bar Town Center (under contract), measuring 107,000 square feet and anchored by a Walmart Neighborhood Market, for $27.8 million.

ROIC also said it has the rights of first refusal on three other supermarket-anchored centers in Hawthorne, Burbank and Huntington Beach, Calif.

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