Weingarten acquires 19 supermarket-anchored shopping centers in California

HOUSTON – Locally based Weingarten Realty Investors has completed the acquisition of 19 supermarket-anchored shopping centers in California from San Diego-based Burnham Pacific Properties Inc. The purchase price of $277.5 million includes $145.5 million in cash and the assumption of a mortgage with a balance of approximately $132 million. The majority of the shopping centers are located in the San Francisco Bay area, and several other centers are located in the Los Angeles area. The properties, which are over 96% leased, total approximately 2.5 million sq. ft.

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