Cohen & Steers and Acadia Realty Trust Acquire Open-Air Shopping Center in Tampa, FL

Core Insights - Cohen & Steers and Acadia Realty Trust have formed a joint venture to acquire The Walk at Highwoods, a community shopping center in Tampa, Florida [1] - The Walk at Highwoods spans 141,000 square feet and is fully occupied by a mix of national and local retailers [2] - Tampa's economic growth, driven by a favorable tax environment and expanding technology and financial sectors, has made it an attractive market for retail investments [3] Company Overview - Cohen & Steers specializes in real assets and alternative income, including listed and private real estate, and has a global presence with offices in major cities [5] - Acadia Realty Trust focuses on long-term growth through a high-quality core real estate portfolio, particularly in dynamic retail corridors [6] Market Conditions - Open-air shopping centers in the U.S. have reached a national occupancy level of 95.7%, the highest in 16 years, indicating strong demand [4] - The retail submarket in Northeast Tampa has experienced a rent growth of 6.4% over the past year, with a low vacancy rate of 2.3% [3][4]