Cohen & Steers Income Opportunities REIT, Inc. ("CNSREIT") has announced the acquisition of Deer Valley Towne Center, a 159,000 square foot open-air shopping center located in the Deer Valley submarket north of Phoenix, Arizona. The acquisition was completed through a joint venture with Sterling Organization, marking CNSREIT's fourth collaboration with the real estate investment firm. Deer Valley Towne Center, which is over 94% leased, is strategically located adjacent to 800 apartment units and 200 hospital beds and is shadow anchored by Target. This acquisition aligns with CNSREIT's focus on acquiring high-quality, necessity-driven shopping centers in high-growth markets.
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