Weingarten Picks Partner for NC-Based Retail Developments

HOUSTON-Weingarten Realty Investors of Houston and Bob Hughes Associates of Raleigh, NC have formed a partnership to develop grocery-anchored and community shopping centers. The NC-based retail centers are expected to range in size from 100,000 sf to 400,000 sf.

Hughes will be responsible for the development of the centers. Weingarten will handle leasing and management of the centers, as well as assisting with site acquisition and anchor tenant selection.

Hughes, founded in 1980, has a portfolio of 2.1-million sf of commercial space. Weingarten, a Houston REIT, owns 248 income-producing properties in 14 states. Included in Weingarten’s 28-million sf portfolio are 196 shopping centers, 50 industrial properties, one apartment project and one office building.