The 105,796-sf retail center is 97% occupied and anchored by a 64,875-sf Jewel/Osco. The rest of the tenant lineup includes Blockbuster Video, Fantastic Sam's, Subway, H&R Block, General Nutrition Centers and Sally Beauty Supply.
Tim Walsh of Cohen Financial represented the seller, Townes Crossing Investors, LP, while vice president of acquisitions Bill Anderson represented his company, Inland Real Estate Corp.
Townes Crossing was one of three shopping centers recently acquired by the company. Another was the 137,136-sf Park Square in Brooklyn Park, MN, purchased for $9.5 million. It is anchored by a 57,345-sf Rainbow Foods with a Fashion Bug, Bakers Square, Benchwarmer Bob's restaurant, Citifinancial, General Nutrition Centers, Subway and H&R Block filling out the center, which is 93% occupied.
Pete Rand of The Welsh Co. represented the seller, Park Square Holdings, LLC.
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