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Canadian REIT RioCan opens U.S. office in Mount Laurel

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Toronto-based RioCan Real Estate Investment Trust announced today its operating platform in the United States is now fully staffed and operational. RioCan has consolidated its ownership of virtually all of the US properties that were previously owned through joint venture arrangements.

Working from two regional offices located in Mount Laurel, New Jersey and Dallas, Texas and supported by RioCan's headquarters in Toronto, Ontario, Canada, RioCan's 26 full time employees in the United States will manage RioCan's American portfolio.

According to the announcement, in less than four years, RioCan has assembled a U.S. portfolio that comprises 47 properties with nearly ten million square feet of net leaseable area representing approximately 20 percent of RioCan's total portfolio by square feet. RioCan's US portfolio is diversified across two regions in the US, the Northeast and Texas, with more than one thousand tenancies. This high quality portfolio derives 86 percent of its annualized rental revenue from national and anchor tenants

RioCan properties in New Jersey

New Jersey    
Cross Keys PlaceTurnersville148,173 Sports Authority, Old Navy, Bed Bath & Beyond, Home Depot*
Deptford LandingDeptford517,096 Walmart, Sam's Club, hhgregg, Michael's, Petsmart
Sunrise PlazaForked River260,895 Home Depot, Kohl's
Total 926,164  

Write to the Editorial Department at editorial@njbiz.com

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