NewRiver Retail is under offer to buy the Broadway shopping centre in Bexleyheath from a joint venture between LaSalle Investment Management and Canada Pension Plan Investment Board.
It is paying around £120m, which reflects a 6.2% yield.
The owners put the 550,000 sq ft shopping centre up for sale last year through JLL.
It is the first shopping centre to go under offer in 2016, following a year of strong transactions in 2015 with a total of £4.3bn trading.
Broadway shopping centre, bought by LaSalle Investment Management in 2009, has 88 shops generating around £8.2m pa.
LaSalle Investment Management and CCPIB were advised by JLL; Jackson Criss is acting for NewRiver Retail.
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