Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Brixmor Picks Up Two Texas Shopping Centers
In this year’s second quarter, Brixmor Property Group Inc. acquired two Texas retail centers. The company paid $46.5 million for Jones Crossing in College Station, Texas, home to Texas A&M University. The center is anchored by an H-E-B market and has 15 acres of undeveloped land at its center. Stratus Properties sold the College Station property to Brixmor.
The company also acquired Vintage Marketplace, an approximately 72,000-square-foot grocery-anchored neighborhood center in the northwest suburbs of Houston, Texas, for $32.7 million. Anchored by Whole Foods Market, the property complements 26 other Brixmor assets in the Houston market. The company cited near-term leasing of vacancies and below-market in-place rents as opportunities for value creation.
In the first six months of the year, Brixmor reported the disposition of six shopping centers. The company generated gross proceeds of $123 million on the sales.
Brixmor owns 344 open-air shopping centers totaling 62 million square feet nationwide.
- ◦Sale/Acquisition
