(For more retail coverage, click GlobeSt.com/RETAIL.)
BOCA RATON, FL-New York-based TIAA-CREF Global Real Estate andHouston-based Weingarten Realty Investors have formed a jointventure for the acquisition of seven-property shopping centerportfolio.
The joint venture will be 80% owned by TIAA-CREF and 20% byWeingarten, which acquired the 1.25-million-sfportfolio in October from locally based WoolbrightDevelopment Inc. for $325 million, or $260 per sf. It was calledone of the largest retail portfolio sales in recent Florida historyby the brokers who negotiated the sale.
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