TNP Strategic Retail Trust Acquires Bloomingdale Hills in Tampa Suburb
IRVINE, Calif., June 21, 2012 /PRNewswire/ -- TNP Strategic Retail Trust, Inc. (the "Company"), a public non-traded REIT that invests in grocery and drug-store anchored, multi-tenant necessity retail properties and other real estate-related assets, announced today the completion of the Company's 19th acquisition, Bloomingdale Hills, a nearly 13-acre retail center located in the Tampa suburb of Riverview, Florida.
Bloomingdale Hills was constructed in 2002 at the intersection of West Bloomingdale Avenue and Providence Road, where approximately 62,500 cars pass each day. The property comprises approximately 78,500 square feet of rentable space, as well as a fully improved, undeveloped land parcel.
The center is anchored by Wal-Mart Neighborhood Market and is 100 percent leased to multiple tenants, including St. Joseph's Children's Hospital of Tampa.
"The anchor tenant, Wal-Mart, is signed to a 15-year lease and holds a Standard & Poor's 'AA' credit rating as one of the world's largest retailers," said Steve Corea, senior vice president of acquisitions for Thompson National Properties.
About TNP Strategic Retail Trust, Inc.
TNP Strategic Retail Trust, Inc. is a publicly registered non-traded REIT that invests in grocery and drug-store anchored, multi-tenant necessity retail properties, located primarily in the Western United States, and real estate related assets, including investment in or origination of mortgage, mezzanine, bridge and other loans related to commercial real estate. TNP Strategic Retail Trust has acquired 19 shopping centers in 14 states containing approximately 1.9 million square feet at an overall purchase price of more than $240 million. For more information regarding TNP Strategic Retail Trust, please visit www.tnpsrt.com.
About Thompson National Properties, LLC
Thompson National Properties, LLC (TNP) is a real estate advisory company, specializing in the creation and management of real estate investment funds. TNP uses a variety of investment structures to fit the needs of its investors, which are designed for both institutional and high net worth individual investors. Thompson National Properties is also a leader in both property and asset management and receivership services, a key element in any successful commercial real estate investment in today's lender-driven marketplace.
Headquartered in Irvine, California, Thompson National Properties was founded in April 2008 and has six regional offices. As of June 21, 2012, Thompson National Properties manages a portfolio of 152 commercial properties in 30 states, totaling approximately 17.4 million square feet, on behalf of over 5,600 investor/owners with an overall purchase value of $2.1 billion. For more information regarding Thompson National Properties, please visit www.tnpre.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
SOURCE TNP Strategic Retail Trust, Inc.