MOUNTAIN VIEW, CA—Federal Realty Investment Trust recently sold an 11.7-acre portion of San Antonio Center for $155 million that was under threat of condemnation. The land is needed for the eventual construction of a school by the Los Altos School District.
Tenants on the sold portion of the property include Kohl's, 24 Hour Fitness, Jo-Ann and various small shop tenants. Tenant condemnation awards, yet to be finalized, will be paid out of Federal Realty's sale proceeds.
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