Federal Realty Investment Trust (FRT) said on Monday that it has acquired Village Pointe, an open-air lifestyle center in West Omaha, for $153.3 million. The 453,000-square-foot property, Village Pointe, draws nearly six million annual visits and serves a trade area of over half a million people.
Don Wood, CEO of Federal Realty, said: "Village Pointe 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."
Federal Realty also noted that Village Pointe aligns with its strategy of acquiring market-dominant retail assets that deliver near- and long-term growth.
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