Although the company would not disclose the acquisition price, sources tell GlobeSt.com the Houston-based real estate investment trust paid between $130 per sf to $150 per sf for the 12.5-acre site on the southwest corner of Lyons and Glades Roads.
With this acquisition, says Drew Alexander, Weingarten president and chief executive officer, the REIT now owns five retail properties in Florida comprising one million sf. The company also owns the 316,000-sf Pembroke Commons neighborhood retail center in the Broward County community of Pembroke Pines.
"WRI plans to continue searching for appropriate acquisitions in the state," Alexander says in a prepared statement.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
