USAA Adds 225,610 SF to Retail Portfolio
- Jun 04, 2010
June 4, 2010
By Allison Landa, News Editor
USAA Real Estate Company has purchased a 225,610-square-foot shopping center in East Providence, Rhode Island through a co-investment joint venture. Wampanoag Plaza was sold by New York-based Emmes Asset Management Company and is currently 97 percent leased to 11 tenants.
The property is home to anchor tenant Stop & Shop as well as Savers, Marshalls, Dollar Tree, Napa Auto Parks and Payless Shoe Source. It is located at the corner of Route 44 and Route 1A, three miles east of the Rhode Island state capitol building.
“Quality discount necessity-based retailers located along two major thoroughfares will continue to attract a steady customer base,” USAA chairman and CEO Pat Duncan said in a statement.
USAA has $5 billion in assets under management, with a portfolio consisting of office, industrial, retail and hotel properties.