Aberdeen's Beach Boulevard Retail Park has changed hands in a deal worth a reported £60million.
Reality Income Corporation has bought the site from Abrdn (formerly Aberdeen Asset Management) after a "hotly contested process", according to real estate publisher React News.
It is the US investor's second major purchase in the city, having previously bought the Garthdee Retail Park for £32million.
It now has a retail portfolio across Europe worth over £2billion.
Beach Boulevard is the largest retail park in the city and has Asda, Costa, Home Bargains, Dunelm and Aldi in its client roster.
The purchase follows a trend of renewed investor demand for retail parks, which are perceived to be less at risk than high streets from the rise of e-commerce.
Retailers are using larger stores on retail parks as distribution centres and click-and-collect hubs.
Earlier this week it emerged that Mike Ashley's Frasers Group has placed a property portfolio - including Berryden Retail Park - up for sale in a move which could fetch upwards of £320million.
The £320million asking price for Ashley’s retail assets represents a yield of 7%. The process is being handled by property agents at CBRE, according to the Sunday Times.