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Hines REIT Nabs Acreage at The Rim

Hines Global REIT, headquartered in Houston, acquired 8.8 acres at The Rim, a 2 million-square-foot shopping center on La Cantera Parkway in San Antonio. The REIT struck the $60.9 million deal with Thomas Enterprises Inc., The Rim’s developer.

Included in the purchase was approximately 136,000 square feet of existing retail space, and an additional 100,000 square feet that is under construction, or leased to chains including Lupe Tortilla and Gloria’s Latin Cuisine. The deal also brought the sites of Hopdoddy Burger Bar and Macy’s Backstage into the REIT’s portfolio.

“Since our first acquisition at The Rim in 2014, we have been incredibly pleased with the shopping center’s performance and growth in the San Antonio market,” said Hines’ Kenton McKeehan. “The additional acquisitions are an indication of our positive feelings going forward.”

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

  • ◦Sale/Acquisition
  • ◦Sale/Acquisition
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