1. CNSREIT acquired Springs Plaza, 99% occupied shopping center in Florida. 2. Acquisition positions CNS for cash flow growth in high-demand area. 3. CNSREIT's eighth center from joint venture with Phillips Edison. 4. Open-air shopping centers experience highest occupancy in 16 years. 5. Bonita Springs projected population growth supports long-term income potential.
FAQ
Why Bullish?
The acquisition is strategically located in a growing area, enhancing income potential, similar to previous successful acquisitions. Historically, acquisitions in such prime locations lead to stable cash flow and increased market confidence.
How important is it?
The acquisition aligns with CNS's income-focused strategy, likely boosting market confidence. Given its prime location and existing occupancy, the impact is likely to be significant.
Why Long Term?
The population growth and strategic investment indicate sustainable income increase over several years. Historical investments in growing communities have shown consistent long-term returns.
Cohen & Steers Income Opportunities REIT, Inc. Acquires ALDI-Anchored Shopping Center in Bonita Springs, Florida
Cohen & Steers Income Opportunities REIT, Inc. (CNS) has announced the acquisition of Springs Plaza, a grocery-anchored shopping center located in Bonita Springs, Florida. The deal was finalized as part of a joint venture with Phillips Edison & Company (NASDAQ: PECO), which marks CNS's fourth collaboration with PECO and adds to its growing portfolio of open-air shopping centers. This acquisition highlights CNS's commitment to investing in high-quality properties that generate reliable income.
Details of the Acquisition
Springs Plaza is a substantial 195,000 square-foot grocery center situated in a bustling area of Southwest Florida. The property boasts a 99% occupancy rate and features prominent tenants such as ALDI, Ross, Ollie's, and Athletica Health & Fitness. Located in a rapidly growing community between Naples and Fort Myers, Springs Plaza is positioned within a five-mile radius of over 1,100 housing units currently under construction, further enhancing its investment potential.
Over the next five years, a cumulative population growth of 3.8% is projected within a three-mile radius of the center, signaling robust demand for retail and service offerings.
Strategic Location and Future Prospects
According to James S. Corl, Chief Executive Officer of CNS and Head of the Private Real Estate Group at Cohen & Steers, "Springs Plaza is positioned at the busiest intersection in Bonita Springs—at the northern gateway to the Naples area, the destination with the highest median wealth and income in West Florida." This strategic location, coupled with near-full occupancy of the surrounding retail space and no new construction planned, provides an excellent environment for enhancing cash flow and upgrading tenancy in the long term.
CNS’s Investment Approach
Cohen & Steers Income Opportunities REIT (CNS) continues to focus on acquiring high-quality, necessity-driven properties that promise attractive income potential. With open-air shopping centers currently at their highest occupancy levels—increasing to 95.7% according to CoStar Group—CNS is strategically positioned to capitalize on this favorable market condition.
About Cohen & Steers Income Opportunities REIT
Cohen & Steers Income Opportunities REIT, Inc. is a non-listed, perpetual-life REIT dedicated to investing primarily in high-quality, income-focused properties within the United States. The REIT is externally managed by Cohen & Steers Capital Management, Inc., a subsidiary of Cohen & Steers, Inc. For more information, visit www.cnsreit.com.
About Phillips Edison & Company
Phillips Edison & Company, Inc. (PECO) is recognized as one of the largest operators of grocery-anchored neighborhood shopping centers in the United States. Founded in 1991, PECO has successfully managed a portfolio of well-occupied centers featuring a mix of both national and regional grocery anchors. As of September 30, 2025, PECO manages 328 shopping centers, comprising over 34.0 million square feet across multiple states.
Forward-Looking Statements
This announcement contains forward-looking statements that involve risks and uncertainties. These statements may include projections about CNS’s financial performance, plans for future operations, and potential acquisitions. Readers should review CNS’s risk factors outlined in its SEC filings for more information.