RPT Realty RPT, through its grocery-focused joint-venture platform R2G Venture LLC, is under contract to acquire the Dedham shopping center in Boston for a contract price of $131.5 million. The move marks a leading step toward the execution of its 2021 strategic acquisition plan.The Dedham shopping center is located inside the 128 loop (Interstate 95). This 510,000-square-foot grocery-anchored shopping center enjoys solid trade area demographics with a three-mile average household income of $136,000 and population density of 109,000. Therefore, with its thriving and highly populated infill location, the property is likely to see decent demand and generate strong cash flows for the company.The center is 91.8% occupied, currently. It is anchored by Stop and Shop, and shadow anchored by Lowe’s LOW. The property is home to thriving retailers and quick service restaurants like T.J. Maxx, Dick’s Sporting Goods DKS, Starbucks SBUX, and Chipotle.RPT Realty is focused on expanding in the high growth targeted markets of Boston, Nashville, Tampa and Atlanta. With eight of the nine centers being grocery-anchored, Boston is anticipated to become the company’s third largest market.The company closed its proposed acquisition of grocery-anchored shopping center, Newnan Pavilion, in Atlanta, for $41.6 million. It has either closed or is under contract on nine multi-tenant open-air shopping centers, with a gross acquisition value of roughly $500 million.Per management, “The power of our strategic joint ventures coupled with our wholly owned platform have positioned RPT to quickly redeploy $500 million of capital into highly sought after top national markets, which we expect will allow for accelerated and accretive earnings growth in 2021 and 2022.”As of June 30, 2021, RPT Realty's property portfolio consisted of 50 multi-tenant shopping centers, which includes five shopping centers owned through a joint venture, 15 net lease retail properties owned through a separate joint venture, and 13 net lease retail properties held for sale.However, softness in the retail real estate sector has affected the performance of RPT Realty.Shares of this company have gained 4.3% over the past six months, underperforming the industry's growth of 28.4%.Image Source: Zacks Investment ResearchThe company carries a Zacks Rank #3 (Hold), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Starbucks Corporation (SBUX): Free Stock Analysis Report Lowes Companies, Inc. (LOW): Free Stock Analysis Report DICKS Sporting Goods, Inc. (DKS): Free Stock Analysis Report RPT Realty (RPT): Free Stock Analysis Report To read this article on Zacks.com click here.