The REIT didn't disclose the purchase prices in a prepared statement. But area retail brokers familiar with the two submarkets tell GlobeSt.com the retail property probably sold for $140 per sf or about $21 million. The industrial asset carried an estimated tag of $2.9 million. Brokers based their estimate on the industrial property on a $40-per-sf replacement cost.

Weingarten CEO Drew Alexander says the retail acquisition gives his company "added presence in this very strong market." A Publix Supermarket anchors the property at the northwest corner of Sugarloaf Parkway and Five Forks Trickum Road. Other tenants are Hollywood Video and Washington Mutual.

The industrial center is at the southeast corner of Southside Industrial Parkway and Jonesboro Road and is near several existing industrial assets owned by Weingarten, Alexander says. The property is also near Interstate 285 and Hartsfield-Jackson Atlanta International Airport.

Alexander says his company's portfolio totals 2.5 million sf valued at $362.5 million. The REIT has 340 income-producing properties in 20 states. The portfolio comprises 278 neighborhood and community shopping centers and 62 industrial properties totaling 45.6 million sf.

Alexander says Weingarten has "one of the most diversified tenant bases of any major REIT in its sector, with the largest of the 4,900 tenants comprising less than 3% of rental revenues." Weingarten's common stock on the New York Stock Exchange is trading in the $30-per-share range.