Cypress West

In December 2012, ROIC acquired Cypress West for $27.6 million. The shopping center is approximately 106,000 square feet and is anchored by Kroger (Ralph's) Supermarket and Rite Aid. The property is located in Cypress, California, in the heart of Orange County and is currently 92.0% leased.

Redondo Beach Plaza

In December 2012, ROIC acquired Redondo Beach Plaza for $30.8 million. The shopping center is approximately 111,000 square feet and is anchored by Safeway (Vons) Supermarket. The property is located in Redondo Beach, California, within the Los Angeles metropolitan area and is currently 98.8% leased.

Harbor Place Center

In December 2012, ROIC acquired Harbor Place Center for $27.7 million. The shopping center is approximately 120,000 square feet and is anchored by Albertson's Supermarket and Ross Dress for Less. The property is located in Garden Grove, California, in the heart of Orange County and is currently 100% leased. Albertson's is no longer operating at the shopping center. ROIC is currently in advanced discussions with several national retailers regarding the Albertson's space.

In 2013, year-to-date ROIC has acquired the following two shopping centers for a total of $39.8 million.

Diamond Bar Town Center

In February 2013, ROIC acquired Diamond Bar Town Center for $27.4 million. The shopping center is approximately 107,000 square feet and is anchored by a national grocer. The property is located in Diamond Bar, California, within the Los Angeles metropolitan area and is currently 91.2% leased.

Bernardo Heights Plaza

In February 2013, ROIC acquired Bernardo Heights Plaza for $12.4 million. The shopping center is approximately 38,000 square feet and is anchored by Sprouts Farmers Market, a regional grocery store. The property is located in Rancho Bernardo, California, within the San Diego metropolitan area and is currently 100% leased. 

CASH DIVIDEND

On November 30, 2012, ROIC distributed a $0.14 per share cash dividend. On February 19, 2013, ROIC's board of directors declared a cash dividend of $0.15 per share, payable on March 29, 2013 to shareholders of record on March 15, 2013. The $0.15 per share dividend represents a 7.1% increase over ROIC's previous dividend.

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