Thursday, January 17, 2013

Two North Texas retail properties sell for nearly $37M

Carrier Towne Crossing is located in Grand Prairie. The Retail Properties of America recently sold the shopping center, which was part of a five-property portfolio.

Two North Texas retail properties were sold by Oak Brook, Ill.-based Retail Properties of America Inc. (NYSE: RPAI) as part of a strategic plan to strengthen the company's balance sheet.

The two properties ? Carrier Towne Crossing in Grand Prairie and Southwest Crossing in Fort Worth ? were sold for a total of $36.9 million.

Carrier Towne Crossing is a 89,873-square-foot retail center at South Carrier Parkway and Interstate 20 in Grand Prairie. Notable tenants include Starbucks, Target, Home Depot, PetSmart and Cavender's.

Southwest Crossing is a 113,528-square-foot shopping center at 200 Southwest Loop 820 in Fort Worth. Tenants include Lowe's, Kohl's, Best Buy and Garden Ridge.

The two retail centers were part of a five-property portfolio sold by the seller. UCR worked on the deal.

Candace covers commercial and residential real estate and sports business.

Source: http://feedproxy.google.com/~r/vertical_50/~3/9Vj5pXKMC6w/two-north-texas-retail-properties-sell.html

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