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ORLANDO-Houston-based Weingarten Realty Investors has closed on its 10th Florida retail asset with the acquisition of the 17-year-old, 98%-leased, 112,000-sf Lake Washington Square Shopping Center in Melbourne, FL, 60 miles southeast of Downtown Orlando.

The property is at the southeast corner of Wickham and Lake Washington Roads. Albertson’s anchors the center which has national tenants such as Tuesday Morning, TCBY and Sally Beauty Supply.

Weingarten didn’t disclose the price in a prepared statement. But area brokers familiar with the Space Coast retail submarkets tell GlobeSt.com on condition of anonymity the price was about $120 per sf or a total $13.44 million. The $120 per-sf-price would match what Weingarten has been averaging in the purchase of nine comparable properties this year, according to the company’s previously prepared statements.

In the Southeast, Weingarten trails its nearest shopping center rival, Oak Brook, IL-based Inland Retail Real Estate Trust Inc. which has 61 properties totaling 8.7 million sf in six states. In Florida, Inland has 24 properties totaling 4.4 million sf. Weingarten’s 10 Florida centers total 2.7 million sf.

Weingarten’s total portfolio of 296 properties in 18 Southern states comprises 239 neighborhood and community shopping centers and 57 industrial properties with an aggregate 37.2 million sf, according to the REIT.

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