Wheeler Real Estate Investment Trust, Inc. Acquires 147,738 Square Foot Shopping Center in Richmond, Virginia

Wheeler Real Estate Investment Trust, Inc.

("Wheeler" or the "Company"), a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing retail properties with a primary focus on grocery-anchored centers, announced today that the Company has acquired Brook Run Shopping Center ("Brook Run"). The property was acquired from an affiliated entity of the Company and has an acquisition value of approximately $18.5 million, or $125.22 per leasable square foot. Brook Run was paid for using a combination of the proceeds from the Company's recent financing, debt and the issuance of operating partnership units. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20150604005324/en/ Wheeler Real Estate Investment Trust, Inc.

has acquired Brook Run located in Richmond ... Wheeler Real Estate Investment Trust, Inc.

has acquired Brook Run located in Richmond, Virginia (Photo: Business Wire) Jon S. Wheeler, Chairman and Chief Executive Officer of Wheeler, stated, "Brook Run Shopping Center is a perfect example of our acquisition criteria as it is a ‘necessity-based' retail focused property that is located in a growing secondary market with a majority of its tenants either nationally or regionally known." "We view Brook Run as a testament to the Company strategically utilizing the capital from its recent financing, as Brook Run offers additional opportunities to increase the value of our property portfolio even further through outparcel development. We were also pleased to acquire this property under what we believe to be attractive terms and are confident Brook Run will generate strong Net Operating Incomes and solid returns for our shareholders." Brook Run Shopping Center – Richmond, Virginia Brook Run is a 147,738 square foot grocery-anchored shopping center located in Richmond, Virginia. Brook Run was built in 1990, and is 91.2% leased. The property is anchored by a Martin's Food Market and CVS Pharmacy. The majority of the remaining leased square footage is occupied by nationally and regionally known tenants that include Crunch Fitness, Hair Cuttery, and H&R Block. Wells Fargo and Merchant's Tire and Auto shadow anchor the property. J. Sargent Reynolds Community College is within a 3 mile distance from the shopping center. Located on US Route 1, which averages 26,000 vehicles per day, Brook Run is in close proximity to Interstate 95 with this particular section of the highway averaging 98,000 vehicles per day. The property also has nearby access to Interstate 64 which runs a total of 298 miles east to west through the middle of West Virginia to the Hampton Roads area. Location / Demographic Information Brook Run is located in the city of Richmond, Virginia. In 2014, the US Census Bureau estimated that Richmond had a population of approximately 217,853 and was considered the fourth most populated city in Virginia. Fortune 500 companies Dominion Resources and MeadWestvaco, are headquartered within Richmond city limits. Major corporations, Capital One, Altria, CarMax, Genworth and UPS Freight also have their headquarters located in the Richmond metropolitan area.