PLANO, TX-Morris-Floyd Capital Partners isactive once again, buying the 115,000-square-foot,Kroger-anchored Custer Park ShoppingCenter from Weingarten Realty Advisors.The Fort Worth buyer is also under contract to purchase two moreretail properties; the 220,000-square-footMountain View Mall in Ardmore, OK and a SuperWalmart-anchored center in Weatherford, TX.

According to company principal Bill Morris,Morris-Floyd's purpose for being is to acquire retail propertieswith value-add opportunities that may be below the radar screen ofthe larger and institutional investors, while being too large for aprivate individual to own and manage. As such, the Custer ParkShopping Center at 3001 - 3131 Custer Rd. came to his attention viaTom Salanty of Cushman & Wakefield ofTexas Inc., who marketed the asset on behalf of theseller, and told Morris that the 1970s-built center had been undercontract in late 2011, but fell out.

"That happens a lot," Morris explains. "If something falls outof contract, instead of going through the bidding process again,sellers a lot of times will just say go get it done, find me abuyer." Now, as Custer Park Shopping Center's new owner,Morris-Floyd plans to invest $1 million in renovations and capitalimprovements in the 80%-leased center.