Last week SCI purchased the 153,400-sf, Giant Foods-anchored Palmer Town Center, in Easton, PA, for $40.8 million. Of SCI's $1 billion in total assets, about 50% are currently retail properties; the rest are other property types.

Of the $1 billion the firm expects to acquire next year, about half will be retail assets, according to SCI executives. The company is also in the process of developing Midvale Marketplace, a 100,000-sf center in Tucson, AZ that is shadow-anchored by a Wal-Mart Supercenter and is set for completion in March.

In the case of Park Place II, it is anchored by Kohl's, Marshalls, Bed Bath & Beyond and Borders. The center is located on Natomas Boulevard in the North Natomas neighborhood of northwestern Sacramento. Donahue Schriber opened the center last year and continues to operate the nearby Park Place I.