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DALLAS-In an off-market deal, Houston-based AmREIT has grabbedcontrol of the 34,250-sf Uptown Plaza, a 1.9-acre infilldevelopment that's just now opening its doors. With retail rentsrunning $35 per sf to $70 per sf, the chic retail piece undoubtedlyfetched top dollar based on cap rates, the McKinney Avenue locationand the rarity of the buying opportunity.

Local developer Shafer Property Co. has the center at 87%occupancy. Potbelly Sandwich Works just opened Monday. Others inthe 2222 McKinney Ave. line-up are Pei-Wei Asian Diner, Grotto,Century Bank and the Kevin Charles Salon. If comps tell the storyabout the size of the deal, a nearby retail building has beenquietly tagged at roughly $415 per sf, but it's not as new or aswell-rooted in tenancy as AmREIT's newest portfolio member, asource explains.