The acquistion marks Weingarten's entry to the Jacksonville, FLmarket, one of the largest in Florida. The purchase also increasesWeingarten's Florida portfolio to eight retail properties totaling1.8 million sf.
The leading retail REIT in Florida, on the acquisition side thisyear alone, is Inland Retail Real Estate Trust Inc. of Oakbrook,IL. Inland has 21 retail properties totaling 2.5 million sfthroughout the state. Inland has been paying an average $100 per sffor its acquisitions since June of this year, according to thecompany's published figures.
The Argyle center at the southwest quadrant of Interstate 295and Blanding was developed in 1984 and re-developed in 1998. Theanchors are Publix Supermarket, T.J. Maxx, Babies R Us and ServiceMerchandise.
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