OAK BROOK, ILL.—Retail Properties of America Inc., based in Oakbrook, Ill., has closed on the sale of a 1.04-million-sq.-ft. Cost Plus Distribution Center in Stockton, Cali. for approximately $63 million.
“This successful disposition reduces our non-core GLA by approximately 25 percent and further demonstrates our ongoing commitment to shareholder value and continued execution on our strategic plan,” said Shane Garrison, executive vice president and chief operating officer for RPAI.
Retail Properties of America is a self-administered and self-managed real estate company that owns and operates shopping center in 35 states.