Federal Realty Investment Trust (FRT) has agreed to purchase Village Pointe, a 453,000‑square‑foot open‑air lifestyle center in West Omaha, Nebraska, for $153.3 million. The deal adds a dominant retail asset in an affluent submarket with a median household income exceeding $180,000 and a trade area of more than half a million people.
Village Pointe’s tenant mix includes high‑profile anchors such as Apple, lululemon, Sephora, Nordstrom Rack, Scheels, Coach, and Bentley, and it attracts nearly six million annual visits. The property’s strong foot traffic and premium brand presence align with FRT’s disciplined acquisition strategy, which focuses on market‑dominant centers that offer robust tenant sales, limited competition, and significant upside through remerchandising and rent growth.
FRT’s president and CEO Don Wood said the center “checks the key boxes for us: affluent demographics and growing population, clear unmet retail demand, proven retailer success in the location, and a truly dominant asset.” The acquisition is expected to enhance FRT’s portfolio mix, reinforce its presence in the Midwest, and provide a platform for incremental value creation through tenant mix optimization and rent expansion.
The transaction reflects FRT’s broader strategy of acquiring larger open‑air grocery‑anchored neighborhood centers, community centers, and lifestyle centers in high‑income markets. By adding Village Pointe, FRT expands its footprint in a region that has shown resilient retail demand and limited supply of comparable assets, positioning the company to capture long‑term growth in a stable market.
FRT has a long history of increasing its quarterly dividends for 58 consecutive years, the longest record in the REIT industry. The acquisition is consistent with the company’s track record of disciplined growth and dividend stewardship, and it is expected to contribute positively to FRT’s free‑cash‑flow generation and earnings‑per‑share performance in the coming years.
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