The shopping center has a 32% vacancy rate and Lagos tellsGlobeSt.com that the sellers were interested in the center becauseit has upside potential in leasing out the vacant space.

This marks the third shopping center sold by Kagan-Edelman thisfall. In September, the Kagan-Edelman Capital Fund of Houston soldCypresswood Court, a 68,000-sf shopping center in Spring, anorthwest suburb of Houston. Kagan-Edelman had owned that shoppingcenter for 10 years. In October, the Kagan-Edelman Capital Fundsold a 34,455-sf shopping center at 2345 Texas Parkway on thesoutheast side of U.S. Highway 59 near Houston's CBD. Cushing toldGlobeSt.com in October the sale was one of a succession of propertysales for Kagan-Edelman.

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