InvenTrust Properties Acquisition of The Shoppes at Addison Place

United States

Deal value: $26.5 million

Acquisition of The Shoppes at Addison Place, a 68,000 SF strip retail center in Boca Raton, FL, anchored by Trader Joe’s.

The information provided contains a discrepancy regarding the deal value and property details. Search results indicate that SITE Centers (a NYSE-listed REIT) acquired the Shoppes at Addison Place in June 2021 for $40 million, not $26.5 million as stated in the query. The core investment thesis centers on deploying capital into convenience-oriented, necessity-based retail in affluent communities with strong demographics. The property serves a supply-constrained market in Palm Beach County with average household incomes exceeding $102,000 and benefits from high-end residential developments and retirement communities within a 10-minute drive radius.