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Weingarten Realty Pays $99M for L.A. Shopping Center

LOS ANGELES-According to the firm’s president and CEO, attractive aspects to the center including existing relationships combined with the superior demographics and strong barriers to entry.

By Natalie Dolce | Updated on July 03, 2012

LOS ANGELES-Weingarten Realty Investors has completed the acquisition of 8000 Sunset for $99 million. The deal represents approximately a 6% capitalization rate.

“8000 Sunset is the quality shopping center that we are focused on in our recycling initiative,” explains Drew Alexander, president and CEO. “The center’s retailers, Trader Joe’s, Pei Wei and Starbucks, are all existing relationships and combined with the superior demographics including the extreme density and high household incomes as well as strong barriers to entry represents the quality we are pursuing in our acquisition program today.”

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