The largest property in the shopping bag is the 147,800-sf Shoppes of Sugarloaf in Lawrenceville, GA. The 98%-leased Shoppes of Sugarloaf, situated at the junction of Sugarloaf Parkway and Five Forks Trickum Road, was sold by its developer, Flexxon Operating Co. of Sugar Hill, GA. A 54,340-sf Publix grocery store anchors the center.
The Houston-based REIT's lone industrial property in the latest buying spree is the 72,000-sf Southside Industrial Parkway, a fully occupied building at the artery's junction with Jonesboro Road near the Hartsfield-Jackson Atlanta Airport. The Atlanta-based 1998 Augustus Partners LP was the seller.
Rounding out the $80-million expenditure were deals with Dana Commercial Credit Corp. of Toledo, OH for 80% ownership in a trio of shopping centers and the Houston-based Kaldis Development Inc. for its 50% interest in the 56,000-sf Alabama-Shepherd retail plaza at 2900 S. Shepherd Dr. in Houston. The Dana Commercial buyout turned over titles to the 196,000-sf Pavilions at San Mateo in Albuquerque; 209,000-sf Rockwall Market Center, situated in a Dallas/Fort Worth suburb; and 107,000-sf Lone Star Pavilions in College Station, TX.
The REIT entered the Atlanta market two years ago. To date, Weingarten has bought three shopping centers with 473,800 sf and four industrial assets totaling 1.3 million sf.
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