Press Release

Apartment Income Investors Announces the Opening of Amazon Fresh at the Village at Moorpark Shopping Center in Moorpark, CA

Los Angeles, California | February 24, 2022

Amazon Fresh at the Village at Moorpark Shopping Center
Amazon Fresh at the Village at Moorpark Shopping Center

Apartment Income Investors (Aii) is pleased to announce the opening of Amazon Fresh grocery store at the Village at Moorpark Shopping Center in Moorpark, California. Aii acquired Village at Moorpark ("VAM") in February 2020. VAM built out the tenant space from the former Staples location.

Amazon Fresh is a shopping concept pioneered in the U.S. in 2020. Its revolutionary approach centers around shoppers walking into an Amazon Fresh, filling their shopping carts with items on their shopping list and leaving without waiting in line to check out. Amazon Fresh's "Just Walk Out" program allows shoppers to have their items charged to their Amazon account and bypass check-out lines. Customers can use traditional check-out lanes if they prefer.

Emily Workman, an Amazon Fresh spokesperson, said in an email that technology works through "a combination of computer vision, sensor fusion and deep learning."

Bright green shopping carts emblazoned with Amazon’s swooping green arrow are used by customers. In addition to in-store shopping, Amazon Fresh fills online orders, and employees are ready to deliver these orders to guests within a particular shopping radius. There are designated parking stalls for customers who order online for curbside pick-up. Electric car chargers are in the parking area for the convenience of customers who charge their cars while shopping.

Megan Disabella, Amazon Fresh's manager in the Moorpark location, said, "We're super excited to be providing residents with low prices as a local grocery store, and we will also be able to provide jobs for the community as well."

Michael Chesser, Founder and President of Aii, said, "Village at Moorpark is an example of how the Aii team works to improve the physical plant, aesthetic appeal and overall operational efficiency of a property. The team controlled operational expenses and the build-out of the tenant space, allowing Amazon Fresh to open expediently to offer the advance shopping experience to the local residents. Village at Moorpark is an asset to the community, with tenants who increase the shopping opportunities and dining options for the neighboring cities."

Photos of the Grand Opening

About Apartment Income Investors
Founded in 1994, Apartment Income Investors (Aii) has a proven track record of buying underperforming Class B multifamily and commercial properties and implementing renovation and repositioning strategies to improve operations and substantially increase the value of each property. This strategy has proven successful through several real estate cycles with above-average returns to investors. The company's goal is to transform homes, lives and communities while delivering superior investment returns.

For more information, please visit www.aiiproperties.com or contact Michael Chesser at 805.604.2644 | mchesser@aiiproperties.com.

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