CenterSquare, based in Conshohocken, Pennsylvania, has expanded its essential-service retail portfolio with the acquisition of four shopping centers across the United States. The latest purchases increase the firm's nationwide holdings to 80 retail properties, reflecting a continued focus on necessity-based retail assets.
The newly acquired centers include Trade Court Shoppes in Charlotte, Deer Valley Shops in Phoenix, Lake Mead Gateway Plaza in Henderson, and The Shops at Foothills Mall in Fort Collins. Each asset adds a different profile of tenancy and occupancy to CenterSquare's platform, while extending the firm's presence in multiple major metropolitan statistical areas.
Trade Court Shoppes in Charlotte is fully leased and comprises 14,721 square feet. The property is described as 100% occupied and represents CenterSquare's 10th asset in the Charlotte MSA, underscoring the company's concentration in that market. The asset aligns with the firm's broader strategy of aggregating essential-service retail within established trade areas.
In Phoenix, CenterSquare acquired Deer Valley Shops, a 17,043-square-foot retail property that is currently 83% leased. This property marks the firm's seventh holding in the Phoenix MSA, further solidifying its footprint in that region. The occupancy profile suggests remaining lease-up potential while still contributing a largely stabilized income stream to the portfolio.
Lake Mead Gateway Plaza in Henderson adds another 19,671 square feet of retail space to CenterSquare's holdings. The center is 100% occupied and serves as the firm's sixth acquisition within the Las Vegas MSA. The fully leased status of this asset reinforces the company's emphasis on stabilized, income-producing retail centers in key Sun Belt markets.
Rounding out the acquisitions, The Shops at Foothills Mall in Fort Collins totals 111,220 square feet and is currently 88% leased. It is identified as CenterSquare's fourth property in Colorado. With a high but not fully stabilized occupancy level, the asset adds both current income and potential upside through future leasing activity, while broadening the geographic diversification of the company's essential-service retail portfolio.
Together, these four acquisitions expand CenterSquare's national retail footprint and deepen its presence in several MSAs, while combining a mix of fully occupied and partially leased assets that contribute both stability and growth opportunity to its portfolio.
