HOUSTON-Weingarten Realty Investors has tucked three Texas shopping centers into its portfolio for $59.1 million. The 453,600 sf in grocery-anchored shopping centers--two in Laredo and one in Lubbock--are pushing 100% occupancy.

In Laredo, Weingarten entered the market with a double buy from a pair of single-asset holding companies, North Creek Group Ltd. of Laredo and Plantation Centre Ltd. of San Antonio. The properties are the North Creek Plaza, a 434,700-sf community center at 7605 San Dario Ave. and Plantation Centre, a 134,600-sf center at 7811 McPherson Rd.

In Lubbock, the Houston-based REIT acquired its fourth retail property in that market, Northtown Plaza, a 73,600-sf center along North University Drive in the heart of Texas Tech's territory. The asset was sold by local developer, Graco Real Estate Development Inc.

Weingarten represented itself in the transactions as did the sellers of the Laredo shopping centers. In the Lubbock transaction, Graco was represented by Doug Hazelbaker with CB Richard Ellis Inc.'s Dallas office. Tracy Pursell, Weingarten's investor relations director, would not disclose individual prices, but the Lubbock holding undoubtedly fetched the most based on property assessments by Lubbock and Webb counties.

Pursell says the North Creek and Plantation shopping centers each are 97% occupied. An H-E-B supermarket and Target, both corporate-owned locations, are the anchors. North Creek's roster includes Bed Bath & Beyond, Old Navy, Best Buy, Pier One and a United Artists movie theater. North Creek, assessed at $2.9 million, is located at Del Mar Boulevard and Interstate 35 intersection. Plantation, assessed at $8.2 million, is positioned at Del Mar Boulevard and McPherson Avenue. It too is anchored by an H-E-B supermarket.

The 100%-leased Lubbock property is anchored by a United Supermarket. The center is located at the northeast corner of First Street and North University Avenue.

All of the centers are relatively new. North Creek was developed in stages between 1993 and 2001, according to Pursell. "They just kept adding on," she says. Plantation was constructed in 1998 and Northtown was built in phases between 1995 and 1997.

Year-to-date, the REIT has spent $449.1 million to acquire 3.1 million sf in Florida, Georgia, California and Texas. The REIT derives about 90% of its revenue from shopping centers and the remainder from industrial properties.