Slate Retail REIT to buy two grocery-anchored centers in Midwest

Toronto -- Slate Retail REIT announced that it has entered into a binding agreement to purchase two grocery-anchored shopping centers.



Oakland Commons, a 73,705-sq.-ft. property in Bloomington, Illinois, will be acquired for $8.2 million ($111 per square foot). The 100% occupied property is anchored by Jewel-Osco, a subsidiary of Albertsons LLC.



Forest Plaza, a 123,028-sq.-ft. property in Fond du Lac, Wisconsin, will be acquired for $16.85 million ($137 per square foot). The 100% occupied property is anchored by Pick 'n Save, a subsidiary of Roundy's Supermarkets.



Both acquisitions are expected to be completed in fourth quarter 2014 and remain subject to customary closing conditions.