Excel Trust
(NYSE: EXL)
13.28
-0.30
-2.21%
-0.30
-2.21%
MORE ON EXL
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | Excel Trust, Inc. |
| Industry: | REIT - Diversified |
| Employees: | 45 |
DESCRIPTION
| Excel Trust, Inc., was incorporated in the State of Maryland on December 15, 2009. On April 28, 2010, the Company completed an initial public offering of 15,000,000 shares of its common stock at an aggregate public offering price of $210.0 million. It is a vertically integrated, self-administered, self-managed real estate firm engaged in acquiring, financing, developing, leasing, owning and managing community and power centers, grocery anchored neighborhood centers and freestanding retail properties. The Company leases its properties to national and regional supermarket chains, big-box retailers and select national retailers that frequently offer necessity and value oriented items and generate regular consumer traffic. As of December 31, 2012, it owned an operating portfolio consisting of approximately 30 retail properties totaling approximately 5.1 million square feet of gross leasable area, which were approximately 93.4%, leased and had a weighted average remaining lease term of approximately eight years, based on gross leasable area. It also owned two commercial office properties, Excel Center, a portion of which is utilized as Company's corporate headquarters, and the Promenade Corporate Center. The Company competes with numerous owners, operators and developers for acquisitions and development of retail shopping centers, including institutional investors, other REITs and other owner-operator of community and neighborhood shopping centers. On December 15, 2009 the Company elected to be taxed as REIT beginning with its taxable year end December 31, 2010. |
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