Weingarten Antes Up $165M for 780,000 SF
Friday, March 30th, 2007TUCSON-In an effort to expand its Arizona presence, Weingarten Realty Investors has acquired six retail centers totaling 780,000 sf. The $165-million purchase marks Weingarten’s first move into the Tucson area.According to David Doupe, managing director with Jones Lang LaSalle’s capital markets group, Weingarten beat out other contenders from the six-month marketing period because of its price. “They’re making a heavy push to expand further into the Southwest and they already have a base of operations in Phoenix,” says Doupe, who represented the local seller, Bourn Partners LLC. The portfolio’s average occupancy is 88%.




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