XML 41 R23.htm IDEA: XBRL DOCUMENT v3.19.3
Acquired Properties (Tables)
9 Months Ended
Sep. 30, 2019
Asset Acquisition [Abstract]  
Schedule of acquisitions
The following table reflects the retail properties acquired, accounted for as asset acquisitions, during the nine months ended September 30, 2019:
Acquisition Date
 
Property
 
Metropolitan Statistical Area ("MSA")(a)
 
Gross
Acquisition Price
 
Square Feet
January 31, 2019
 
Commons at University Place
 
Raleigh-Cary, NC
 
$
23,250

 
92,000

March 20, 2019
 
Lakeside Winter Park
and Lakeside Crossings
 
Orlando-Kissimmee-Sanford, FL
 
63,500

 
76,000

April 30, 2019
 
Scofield Crossing (b)
 
Austin-Round Rock, TX
 
3,000

 
64,000

May 7, 2019
 
Tomball Town Center Kroger
 
Houston-The Woodlands-Sugar Land, TX
 
13,992

 
74,000

June 14, 2019
 
Sandy Plains Outparcel (c)
 
Atlanta-Sandy Springs-Roswell, GA
 
2,900

 
6,000

June 28, 2019
 
Shoppes at Fairview
 
Dallas-Fort Worth-Arlington, TX
 
36,000

 
67,500

July 11, 2019
 
Southern Palm Crossing (d)

Miami-Fort Lauderdale-West Palm Beach, FL
 
96,750

 
346,200

September 9, 2019
 
Travilah Square
 
Washington-Arlington-Alexandria, DC-VA-MD-WV
 
52,272

 
58,300

September 13, 2019
 
Eldorado Marketplace
 
Dallas-Fort Worth-Arlington, TX
 
70,850

 
189,500

September 27, 2019
 
Garden Village Outparcel (c)
 
Los Angeles-Long Beach-Anaheim, CA
 
3,250

 
3,900

 
 
 
 
 
 
$
365,764

 
977,400

(a)
As defined by the United States Office of Management and Budget.
(b)
The building and tenant improvements were acquired subject to an existing ground lease at the property.
(c)
The assets, liabilities and operations of the adjacent outparcels acquired are included as part of existing retail properties owned by the Company.
(d)
This acquisition was made through a consolidated VIE and was used to facilitate a reverse like-kind exchange under Section 1031 of the Internal Revenue Code of 1986, as amended ("Reverse 1031 Exchanges"). During the third quarter of 2019, the title of Southern Palm Crossing transferred to the Company through the completion of an exchange with the dispositions of West Creek and Boynton Commons.
The following table reflects the retail properties acquired, accounted for as asset acquisitions, during the nine months ended September 30, 2018:
Acquisition Date
 
Property
 
MSA
 
Gross
Acquisition Price
 
Square Feet
May 16, 2018
 
PGA Plaza (a)
 
Miami-Fort Lauderdale-West Palm Beach, FL
 
$
88,000

 
120,000

May 30, 2018
 
Kennesaw Marketplace (a)
 
Atlanta-Sandy Springs-Roswell, GA
 
64,300

 
117,000

September 13, 2018
 
Kennesaw Marketplace, Phase 3 (b)
 
Atlanta-Sandy Springs-Roswell, GA
 
7,500

 
13,000

 
 
 
 
 
 
$
159,800

 
250,000

(a)
These acquisitions were made through two consolidated VIEs and were used to facilitate Reverse 1031 Exchanges. During the last quarter of 2018, the title of PGA Plaza and Kennesaw Marketplace transferred to the Company through the completion of an exchange and expiration of the 180-day waiting period, respectively.
(b)
The assets, liabilities and operations of Kennesaw Marketplace, Phase 3, acquired are included as part of an existing retail property owned by the Company.