2013-02-05 03:17:24 -
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
Forward Looking Statements
This press release may contain statements that are forward-looking, as that term
is defined by the Private Securities Litigation Reform Act of 1995 or by the
Securities and Exchange Commission in its rules, regulations and releases. These
statements include, but are not limited to, discussions related to the Company's
expectations regarding the performance of its business, its liquidity and
capital resources and other non-historical statements. These forward-looking
statements are based on management's beliefs, as well as assumptions made by,
and information currently available to, management. When used in this release,
the words "believe," "anticipate," "estimate,"
"expect," "intend" and similar
expressions are intended to identify forward-looking statements. Although
management believes that the expectations reflected in these forward-looking
statements are reasonable, it can give no assurance that these expectations will
prove to have been correct.
Source: Excel Trust
Matt Romney, SVP, Capital Markets
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Source: Excel Trust, Inc. via Thomson Reuters ONE