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New York REIT Closes on Purchase of $1.3 Billion Shopping Center Portfolio

Necessity Retail Buys Roughly 9.5 Million Square Feet Across US From CIM Group
One of the biggest shopping centers sold in the deal was The Plant, a roughly 510,000-square-foot property in San Jose, California. (CoStar)
One of the biggest shopping centers sold in the deal was The Plant, a roughly 510,000-square-foot property in San Jose, California. (CoStar)
CoStar News
July 11, 2022 | 8:00 P.M.

Necessity Retail REIT has completed its purchase of a massive portfolio that included dozens of retail properties across the country as it seeks to diversify its holdings as a hedge against economic headwinds.

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News | New York REIT Closes on Purchase of $1.3 Billion Shopping Center Portfolio