Donald C. Wood & Jan Sweetnam Of Federal Realty Investment Trust Acquire Del Monte Shopping Center For $123.5M

The Del Monte Shopping Center is a retail property located at 1410 Del Monte Center in the Monterey market. The asset spans 673,155 square feet and has been sold for $123,500,000, equating to a price per square foot of $183. This shopping center is notable for housing major retailers such as Apple, Macy’s, and Whole Foods, making it the only regional mall within a 24-mile radius.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $123,500,000
• Buyer: Donald C. Wood & Jan Sweetnam - Federal Realty Investment Trust
• Seller: Adam Wyll - American Assets Trust Inc.
• Square Feet: 673,155
• Price Per Square Foot: $183

Donald C. Wood and Jan Sweetnam represented Federal Realty Investment Trust in this transaction, while Adam Wyll represented American Assets Trust Inc. The seller previously acquired the property for $115 million in 2004, and the sale allows American Assets Trust to refocus on more strategic markets.