Daily NAV REIT Dividend Capital Diversified Property Fund Inc. (DPF) recently acquired a grocery-anchored shopping center on Cape Cod for $35.5 million.
Anchored by Roche Brothers, a regional grocery store chain, South Cape Village (South Cape) is located in the town of Mashpee, Massachusetts on Route 28 which is a major travel route for year-round and seasonal residents of neighboring towns.
South Cape consists of several buildings that in aggregate represent about 143,000 square feet. Currently, 29 tenants lease approximately 92% of the shopping center’s available space.
“We are thrilled to further expand our presence in a market with such high barriers to entry as Cape Cod and excited to work with the local community to make this a vibrant gathering place for the local and seasonal residents,” commented Greg Moran, Executive Vice President of DPF.
Other tenants of South Cape include Marshalls, Walgreens, Olympia Sports, ProCuts, and Wicked Restaurant and Wine Bar, among others.
DPF’s retail portfolio, including South Cape, consists of 33 properties totaling almost 3.4 million square feet. In total, the REIT owns interests in 68 properties totaling 11.9 million square feet.
For more information, visit DPF here.
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