Acadia Trust pays $78m for W'chester shopping center.

Real Estate Weekly | February 4, 2009 | Copyright

Acadia Realty Trust has purchased Cortlandt Towne Center in Westchester for $78 million.

The purchase was made through Acadia Strategic Opportunity Fund III, LLC, its third discretionary investment fund.

Courtland Towne Center is a 640,000 s/f regional shopping center in Cortlandt, NY, a trade area with high barriers-to-entry for regional and national retailers.

The Property is anchored by Wal-Mart, A&P Food Market, Marshalls, Barnes & Noble and Regal Entertainment Group. The total cost equates to $122 per square foot, a 40% discount to replacement ...

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