San Diego-based Excel Trust Inc. plans a public offering of common stock, expected to generate net proceeds of approximately $139.6 million after underwriting discounts and related expenses.

Company officials said the real estate investment trust plans to sell 11 million shares at $13.25 per share, in an offering expected to close on or about June 25. The offering is subject to customary closing conditions.

All shares are being offered by the company, and Excel Trust has granted underwriters an option to purchase an additional 1.65 million shares within 30 days after the offering. Barclays Capital Inc. and Raymond James & Associates Inc. are joint book-running managers for the offering.

Excel plans to use net proceeds to partially fund certain property acquisitions, which the company has recently placed under contract, and for other general corporate and working capital purposes.

Headquartered in Rancho Bernardo, Excel Trust (NYSE: EXL) invests primarily in retail properties, including neighborhood shopping centers and free-standing buildings.