Ballwin-Area Shop 'n Save Sold

The location just southeast of Ballwin was sold to Excel Trust, Inc., a "retail focused real estate investment trust" late last month, according to multiple news reports.

The sale was part of an acquisition of six stores at a total cost $39.6 million, which included four out-of-state Walgreens locations and a Jewel-Osco in Morris, IL.

"We felt these properties were undervalued in 2010 when we purchased them," said Gary Sabin, Chairman and CEO of Excel Trust. "Realizing a gain in this short of a holding period validates our strategy of buying opportunistically. We will continually review our portfolio and recycle assets when prudent."

MarketWatch.com said the purchase resulted in a net gain of about $3 million.

Editor's Note: Previous reports from other outlets relayed in this article have referred to the affected location as a "Ballwin" store; the affected location is in Twin Oaks, just southeast of Ballwin.