Wheeler acquired eight shopping centers in 2014

Published January 16, 2015 by Robert Powell, III

Virginia Beach-based Wheeler Real Estate Investment Trust Inc. acquired eight shopping centers for $58 million last year, according to a company overview.

The real estate deals, which occurred during the second half of 2014, added 622,792 square feet of gross leasable area to the company’s property portfolio and expanded its geographic footprint.

Wheeler now has 37 properties in 11 states, which includes five undeveloped properties and Pierpont Centre, a 122,259-square-foot shopping center in Morgantown, W.Va. that the company acquired on Jan 14.

Jon S. Wheeler, the company’s chairman and CEO, said in a statement that the company has focused on “acquiring ‘necessity-based,’ retail-focus properties located in secondary and tertiary markets with high occupancy rates and strong tenants mixes.”