Business
Cohen & Steers Income Opportunities REIT, Inc. Acquires Kroger-Anchored Shopping Center
Cohen & Steers Income Opportunities REIT, Inc. ("CNSREIT") announced today its acquisition of Rio Hill Shopping Center, a grocery-anchored open-air shopping center in the Charlottesville, VA market. The acquisition was made through a programmatic joint venture with Phillips Edison & Company (NASDAQ: PECO – "PECO"), a publicly-traded owner and operator of grocery-anchored U.S. neighborhood shopping centers. This is CNSREIT's third acquisition with PECO and seventh open-air shopping center in the
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[{"type":"text","content":"NEW YORK, Nov. 4, 2025 /PRNewswire/ -- Cohen & Steers Income Opportunities REIT, Inc. ("CNSREIT") announced today its acquisition of Rio Hill Shopping Center, a grocery-anchored open-air shopping center in the Charlottesville, VA market. The acquisition was made through a programmatic joint venture with Phillips Edison & Company (NASDAQ: PECO – "PECO"), a publicly-traded owner and operator of grocery-anchored U.S. neighborhood shopping centers. This is CNSREIT's third acquisition with PECO and seventh open-air shopping center in the portfolio.","length":581,"tagName":"p"},{"type":"text","content":"Rio Hill Shopping Center is a 288,000 square foot open-air shopping center. Located five miles northeast of downtown Charlottesville, the property is grocery-anchored and leased to desirable retailers including Kroger and two TJX Cos concepts.","length":243,"tagName":"p"},{"type":"text","content":"The property is located in the affluent and growing Rio submarket, which has a 3-mile median household income of $81,000. It also benefits from the broader Charlottesville market, which since 2015 has seen population growth above the national average and cumulative median household income growth of 52%.1","length":305,"tagName":"p"},{"type":"text","content":"James S. Corl, Chief Executive Officer of CNSREIT and Head of the Private Real Estate Group at Cohen & Steers, said: "We believe Rio Hill Shopping Center is a high-quality property in a growing submarket with an extremely strong grocery store and likewise strong inline tenancy, making it a welcome addition to CNSREIT's growing portfolio of necessity-driven shopping centers. Not every college town will be a winner going forward as higher education enters consolidation mode. But the University of Virginia is definitely on the winning side of the trade, and Charlottesville is the beneficiary." ","length":622,"tagName":"p"},{"type":"text","content":"CNSREIT is acquiring high-quality properties that seek to generate attractive income potential alongside best-in-class operators and has an initial focus on well-anchored, necessity-driven shopping centers. Open-air shopping centers are at their highest occupancy level of the past 16 years at 95.7%2, according to real estate analytics provider CoStar Group.","length":359,"tagName":"p"},{"type...