Nice Dividend PolicyROIC has a total of 47 shopping centers encompassing more than 5 million square feet diversified across the West Coast. Eighteen of the 47 properties (or 35% of total GLA) is located in Southern California. Twelve shopping centers are located in the Northern California region (representing 25% of our total GLA). Nine properties (representing 18% of total GLA) are located in Portland, Oregon, and 22% of GLA is in the Seattle market where ROIC owns eight shopping centers. ROIC's occupancy is now 93.4%, up 100 basis points from a year ago. The portfolio is becoming increasingly more diversified as three leading grocery chains -- Safeway ( SWY), Albertson's, and Kroger ( KRO) -- account for about 18.5% of leased space.
"Our focus is really acquiring off-market unique opportunities, where we can acquire exceptional shopping centers at more reasonable terms and quickly add value. So we're going to keep to our philosophy and our knitting, in terms of how we've acquired as we've done in the past."At the time of publication, Thomas had no positions in securities mentioned. Follow @swan_investor This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.