(For more retail coverage, click GlobeSt.com/RETAIL.)
FLOWER MOUND, TX-Direct Development and Rreef have once againsat down at the closing table for a piece of class A retail. Unlikeother deals, the 160,771-sf Highlands Ranch has been set up asstructured sale with the north of $30-million trade carrying anearly fourth-quarter closeout.
The earn-out is based on filling the 20% balance of the openspace in the 6100 Long Prairie Rd. shopping center, whichessentially delivered in late 2005, Matthew Noack, vice presidentfor the Dallas-based development group, tells GlobeSt.com."Hopefully, we'll have it closed out at the beginning of the fourthquarter," he says.
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