Acadia Realty Trust Acquisition of Del Monte Center

Deal value: $120 million

Acadia Realty Trust acquired Del Monte Center, a 675,000-square-foot open-air regional shopping center in Monterey, California, anchored by Whole Foods, Macy’s, and Apple.

The acquisition of Del Monte Center is driven by the belief in the enduring value of market-dominant, grocery-anchored retail assets in affluent, high-barrier-to-entry markets. Federal Realty aims to capitalize on strong local demographics, high foot traffic, and the center’s status as the premier retail destination in Monterey. The timing reflects renewed investor confidence in experiential and necessity-based retail, as well as a strategic push to expand in underserved but wealthy regions.