The company's vice president/director -- industrial properties Kelly Landwermeyer told GlobeSt.com the disposition of the industrial service center on 3500-3582 W. T.C. Jester Blvd. is part of Weingarten's overall disposition strategy of non-core industrial asset, which includes service centers and flex properties.
He says another asset is under contract and scheduled to close within the next few weeks. "There are another half-dozen on various pre-contract stages in the pipeline," he explains, adding that there are no set deadlines for closings by the end of 2009.
Jester Plaza was 90% leased at closing. Negotiations were handled by David Boyd, Principal of Boyd Commercial Real Estate Services, on behalf of Weingarten. Local real estate agent Karen Stumbough represented the buyer.
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