Georgetown and Cedar Park, Texas — A joint venture between Toronto-based Oxford Properties and Oakbrook Terrace, Illinois-based Pine Tree has acquired two grocery-anchored centers in Texas. Spanning 1 million square feet, the portfolio includes Wolf Ranch Town Center in Georgetown and Lakeline Plaza in Cedar Park. The centers, which are both 99 percent occupied, are home to several national tenants such as Target, T.J. Maxx, Best Buy and Ulta Beauty.
Wolf Ranch Town Center totals 633,000 square feet and features more than 80 retailers and restaurants. Lakeline Plaza, comprises 386,000 square feet and is situated adjacent to Lakeline Mall.
Pine Tree will operate the shopping centers on behalf of the joint venture. Kyle Minter and Conor Lalor of Newmark brokered the transaction.