When it comes to shopping centers, one of the names that shine brightest in the industry is Retail Properties of America, Inc. The company is known as one of the largest owners and operators of retail centers across the country. It is in Oak Brook, Illinois that the business holds its corporate office.
For federal tax purposes, the company is registered as a real estate investment trust (REIT) firm. This means that in order for the company to remain free from any federal tax obligation, it has to distribute at least 90% of its earnings back to its shareholders. The business publicly trades its common shares on the New York Stock Exchange. Its stocks are marketed using the ticker symbol RPAI.
The portfolio of the company is comprised of neighborhood and community centers, power centers, lifestyle centers and several multi-tenant retail mixed-used properties. Additionally, the business also maintains several single-user retail properties. In total, the company’s portfolio is comprised of 208 retail operating properties that have a total gross leasable area (GLA) of 30.52 million square feet. Other than the company’s operating portfolio, they also have interests in three other retail properties that are still in the process of development. Retail Properties of America is the owner of some of the iconic properties across the country. They own the Port Arthur, 23rd Street Plaza, Houma, Academy Sports, Arada, Azalea Square I, Broadway Shopping Center, Woodridge, Cinemark Seven Bridges, and several other retail strips in the country.
Retail Properties of America, Inc. has operations and properties in several states across the country. The business employs the expertise of their team of seasoned property managers who continue on innovating attractive marketing strategies to entice tenants and consumers. The company is one of the components of the Wilshire 5000 Index.