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Federal Realty sells portion of Mountain View, Calif., shopping center for $155M

Federal Realty Investment Trust closed the sale, under threat of condemnation, of an 11.7-acre portion of San Antonio Center in Mountain View, Calif., for $155 million.

The land sold will be used by the Los Altos School District for the construction of a school.

The shopping center real estate investment trust said Kohl's, 24 Hour Fitness, Jo-Ann and several small shop tenants on the sold portion of the 35-acre property will receive tenant condemnation awards out of the sale proceeds.