Weingarten Realty Investors purchased three Texas shopping centers comprising 453,600 square feet in the cities of Laredo and Lubbock.
The total value of the transactions was $59.1 million.
North Creek Plaza is a 434,700-square-foot community center located at the northeast corner of Del Mar Boulevard and Interstate 35 in Laredo. The property is anchored by HEB supermarket and Target, both of which own their locations–which represent 189,300 square feet–as well as Bed Bath & Beyond, Marshall’s, Old Navy, Best Buy, Pier 1 Imports, Party City and United Artists Theater. The center was 97 percent leased at the time of sale.
Plantation Centre is a 134,600-square-foot center, also located in Laredo at the northeast corner of Del Mar Boulevard and McPherson Avenue. This center is also anchored by HEB supermarket, and was 97 percent occupied at the time of sale.
The third acquisition, Northtown Plaza, is a 73,600-square-foot shopping center located at the northeast corner of 1st Street and University Avenue in Lubbock. The center was 100 percent occupied at the time of sale, and is anchored by United Supermarket. Northtown Plaza represents WRI’s fourth retail property in this market.
Houston-based Weingarten Realty Investors is a real estate investment trust.
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