Slate Grocery REIT Acquisition of Shoppes at Legacy Park

Deal value: $26.5 million

Slate Grocery REIT acquired Shoppes at Legacy Park, a 65,000-square-foot grocery-anchored neighborhood center in Plano, Texas, anchored by Tom Thumb.

The core investment motivation is to acquire a stable, income-generating grocery-anchored retail asset in a high-growth market. Slate Grocery REIT targets essential retail centers anchored by necessity-based tenants like Tom Thumb, reflecting a belief in the resilience of grocery-anchored centers amid changing retail dynamics. The timing leverages continued consumer demand for in-person grocery shopping and the defensive nature of grocery-anchored real estate, especially in strong suburban markets like Plano, Texas.