Westwood Financial Acquires Four Centers in Texas

by Nate Hunter

Dallas — The properties were purchased for approximately $33.6 million.

South Towne CrossingDallas  — UCR Investment Sales has brokered the sale of four Dallas/Fort Worth area shopping centers, which total 223,749 square feet, for approximately $33.6 million. The centers include South Towne Crossing, Lake Forest Crossing, McDermott Towne Crossing and Beach Western Commons. The 59,986-square-foot South Towne Crossing is 81 percent leased and shadow-anchored by a Target and Home Depot. Lake Forest Crossing, which is 41 percent occupied, includes 29,897 square feet. McDermott Town Crossing, a 42,700-square-foot, Kroger-anchored center, is 63 percent leased. These three properties were part of a portfolio of value-add properties sold on behalf of Retail Properties of America Inc. The fourth property is the 91,116-square-foot Beach Western Commons. Kroger anchors the center, which is 95 percent occupied. The seller was CNA Enterprises. Westwood Financial acquired all four centers in two separate transactions.

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