Retail Opportunity Investments Corp., began operations as a Delaware corporation, known as NRDC Acquisition Corp., which was incorporated on July 10, 2007. The Company was reincorporated as a Maryland corporation on June 2, 2011. It is fully integrated and self-managed real estate investment trust. It is engaged in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers on the west coast of the United States anchored by supermarkets and drugstores. As of December 31, 2013, the Company's portfolio consisted of 55 retail properties totaling approximately 5.9 million square feet of gross leasable area which were approximately 95.0% leased. During the year ended December 31, 2013, the Company leased or renewed a total of 624,000 square feet in its portfolio. The Company competes with various owners, operators and developers for acquisitions and development of retail properties, including institutional investors, other REITs and other owner-operators of necessity-based community and neighborhood shopping centers, mainly anchored by supermarkets and drugstores. The Company also faces competition in leasing available space to prospective tenants at its properties. The Company's properties are subject to various federal, state and local regulatory requirements, such as state and local fire and life safety requirements.